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Oil Prices Rise As U.S., Iran Play 'Game Of Chicken'; S&P 500 Futures Slip
Investor's Business Daily76d agobearish
Oil Prices Rise As U.S., Iran Play 'Game Of Chicken'; S&P 500 Futures Slip

Oil prices reversed much of Tuesday's decline as the U.S. and Iran dug in their heels in peace talks while renewed Persian Gulf attacks threatened a fragile ceasefire. With hopes for a resolution that would open the Strait of Hormuz once again dented, the clock is ticking to some near-term bad scenarios for both Iran and the global economy. After the S&P 500 scratched out a new record closing high on Wednesday, futures slipped early Thursday amid higher Treasury yields and a stronger U.S. dollar.

Bloomberg77d agobearish
US Airlines See Robust Demand Even as Consumer Confidence Falls

(Bloomberg) -- American Airlines Group Inc. said it continues to see strong demand for travel, even as surging jet fuel drives up ticket prices and consumer confidence in the US edges down. Rival United Airlines Holdings Inc. also said demand continued to be robust. Most Read from BloombergIran’s Khamenei Says No Going Back for Middle East Rocked by WarSingapore Hands Byju's Founder His First Ever Jail TermPutin Signs Law on Use of Army to Aid Russians Detained AbroadEx-President Biden Sues to S

Oil Prices Slide On U.S.-Iran Peace Signals; Airline Stocks Take Off
Investor's Business Daily77d agobearish
Oil Prices Slide On U.S.-Iran Peace Signals; Airline Stocks Take Off

Oil prices retreated below $90 a barrel Wednesday morning as markets seemed to conclude that a near-term opening of the Strait of Hormuz is very likely. Despite a flare-up in tensions over the prior 24 hours as the U.S. targeted small Iranian boats and missile sites, Iranian television helped place the focus on a peace deal, broadcasting terms of a 14-point framework. While the S&P 500 only managed a slight gain on Wednesday morning, airlines and cruise line stocks jumped, led by United Airlines, Norwegian Cruise Line, Carnival and Delta Air Lines.