Stocks wobble, oil prices fall as Trump says Israel aid will stop
SPY•Global stocks were mixed on Tuesday as Brent crude fell 1.45% to $103.28 a barrel after Donald Trump said he had agreed to end $4 billion in aid to Israel at year-end. The S&P 500 rose 0.56% and the Nasdaq gained 0.97%, while the Dow fell 0.18%.
1. Stocks diverge
The S&P 500 and Nasdaq advanced, led by gains in industrials, technology and communication services, while the Dow and pan-European STOXX 600 fell. Investors were also watching US midterm elections, with polls pointing to Democrats potentially taking the House and Senate control uncertain.
2. Oil and bonds
Brent crude fell 1.45% to $103.28 a barrel after Trump said Israel no longer needed US funding and that he had agreed with Prime Minister Benjamin Netanyahu to stop the aid. The US 10-year Treasury yield rose 4.3 basis points to 4.935%.
3. Other markets
The dollar index was flat at 101.81, while spot gold fell 0.39% to $3,932.20 an ounce and silver dropped 1.63% to $49.80. Bitcoin rose 0.93% to $77,469.76.
