Wall Street rises and Oil rallies

Chris Beauchamp IG

Some of last week's rebound has carried over into the new week, though investors remain cautious ahead of US CPI on Wednesday, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Stocks mixed in afternoon trading

“It has been a slow start to the week for markets, in what has been a remarkable sea-change compared to last week’s frenetic movements. The August lull is firmly upon us, and while equities on Wall Street are continuing to claw back gains a cautious atmosphere prevails ahead of Wednesday’s inflation readings for the US and UK. Things might have calmed down but the nervousness hasn’t gone away entirely.”

Oil prices rise on Mid-East tensions

Oil has surged to its highest level in over a week as expectations of an Iranian strike on Israel rise once more. The risk had appeared to recede last week, or at least had been pushed back, but an attack is on the cards once more, powering oil’s move higher from last week’s two-month low.”

Author

Chris Beauchamp

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