Commodities
US Stocks Rebound Despite Crude Oil Worries
The US stock market experienced a rebound last Friday, despite rising interest rate hike odds. The Dow Jones Industrial Average rose by 0.98% to close at $52,573.29, while the Nasdaq Composite Index gained 0.96% to close at 26,333.04.
However, this growth is tempered by concerns over supply chains for Middle Eastern crude oil following attacks on pipelines in Saudi Arabia. The market is also watching trends in the crude oil market and the upcoming U.S. Federal Open Market Committee (FOMC) meeting.
In New York's financial and bond markets, long-term interest rates rose amid growing expectations of an early US interest rate hike. The yield on the 10-year US Treasury note closed at 4.97%, up 0.01 percentage points from the previous day.