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Brent Oil Futures Retreat 3%+; DJIA Futures Rebound 200Pts+; Europe Opens Broadly Higher; VW Results Weigh on Shares
2026-07-24 17:29:31 The US slapped new tariffs ranging from 10% to 12.5% on 60 countries or regions, dampening market sentiment. Reports said Yemen's Houthis attacked oil tankers in the Red Sea. US President Donald Trump said he is considering an unprecedented large-scale attack on Iran as Tehran is not yet prepared to reach an agreement, adding that they have not suffered enough pain. Iran has reportedly rejected a US ceasefire proposal submitted through mediating countries. Oil prices retreated from highs after Brent oil futures briefly surpassed USD100 per barrel, hitting a near two-month high. Brent oil futures last quoted at USD97.59 per barrel, down 3.1%. New York oil futures were down 2.7% at USD89.73 per barrel. Spot gold stabilized at USD4,056 per ounce. Futures for the three major US stock indices rebounded mildly. DJIA futures spiked 222 points or 0.4%, while S&P 500 futures and Nasdaq futures gained 0.18% and 0.01%, respectively. The European Central Bank kept benchmark interest rates unchanged overnight (23rd), in line with expectations. Major European stock markets reversed the previous session's declines and moved broadly higher in early trading on Friday (24th). The pan-European STOXX 600 rose 0.5% to 642.55. The UK's FTSE 100 gained 0.5% to 10,691. France's CAC rose 0.3% to 8,324. Germany's DAX climbed 0.7% to 24,940. Italy's FTSE MIB and Spain's IBEX 35 added 0.6% and 1%, respectively. VOLKSWAGEN's 2Q operating profit fell 9.5%, missing expectations, while the company forecast full-year sales to decline 3%. Its shares lost 1.3% in early trading. ~ AASTOCKS Financial News Website: www.aastocks.com | |