Stock market today: Nasdaq futures lead S&P 500, Dow higher as Microsoft, Meta earnings reassure Wall Street
Oil prices have steadied after falling steeply from the blowout of the ongoing US-China trade war.
Reuters reports:
Brent crude (BZ=F) futures gained 7 cents, or 0.1%, at $61.13 a barrel as at 0318 GMT. U.S. West Texas Intermediate (CL=F) crude futures were up 1 cent or 0.02%, at $58.22. WTI closed at its lowest since March 2021 on Wednesday.
“In the near term, the path of least resistance remains tilted to the downside,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.
“The dual impact of deteriorating demand and looming supply expansion has created a pessimistic outlook for crude, with Brent crude appearing vulnerable to test $55 per barrel,” Sachdeva said.