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Stocks mixed as Seoul stabilises, oil prices rise with eyes on Mideast
AFP1d agobearish
Stocks mixed as Seoul stabilises, oil prices rise with eyes on Mideast

Stocks stabilised in Asia on Tuesday after last week's tech-led rollercoaster ride as investors tracked a record day on Wall Street, while oil prices edged up after their recent plunge with Donald Trump and Iran giving conflicting views on peace talks.Oil prices rose around one percent, having plunged five percent Monday, on hopes for a US-Iran deal to reopen the Strait of Hormuz.

Stocks Rally as Oil Drops on Hormuz Diplomatic Hopes
The Wall Street Journal1d agobearish
Stocks Rally as Oil Drops on Hormuz Diplomatic Hopes

Brent crude fell almost 5% on hopes of reopening the Strait of Hormuz, while U.S. stock indexes posted strong gains. Iran said Monday that there weren’t any talks under way with the U.S. nor were any meetings planned, after President Trump said the day before he had called off a major strike on the country to provide more time for negotiations. The Nasdaq jumped 2.1%, the S&P 500 rose 1.5%, and the Dow industrials gained 1.3%.

The Why Behind Today's Early Stock Stumble
Barrons.com4d agobearish
The Why Behind Today's Early Stock Stumble

The Dow Jones Industrial Average was up 0.3%, or 182 points, while the S&P 500 rose 0.2%. The tech-heavy Nasdaq Composite gained 0.3%. "Yesterday’s relief rally was justifiable, but it seemed rather extreme by the end of the day and overnight," Interactive Brokers' chief strategist Steve Sosnick told Barron's, adding, "After some of the huge moves it seems prudent to expect some profit taking in stocks and sectors that had monstrous bounces."