From BigGo Finance · BigGo Finance · · 1m 20s
Oil Surges After Saudi Airport Attack
Saudi airport attack spikes oil prices as New York stocks mix amid semiconductor weakness.
In brief
Saudi airport attack spikes oil prices as New York stocks mix amid semiconductor weakness. Saudi Arabia's Riyadh airport attacked by Houthi rebels, pushing oil prices to $106.65 per barrel while semiconductor stocks fall. Originally reported by BigGo Finance.
Saudi Airport Under Attack
Houthi rebels attacked Riyadh international airport, Saudi Arabia's capital.
Oil Prices Surge
Brent crude rose to $106.65 per barrel after the attack, fueling inflation concerns.
New York Stocks Mixed
New York stocks closed mixed on the 12th with the Dow Jones rising 0.38% and Nasdaq falling 0.44%.
Semiconductor Index Drops
Philadelphia Semiconductor Index hit its lowest level in three weeks as Micron plunged 3.9%.
Microsoft Regains $4 Trillion
Microsoft regained $4 trillion market capitalization after announcing AI chip deployment plans.
Inflation Concerns Rise
Cleveland Fed President Beth Hammack warned inflation is broadening and could prompt a Fed rate hike.
Third-Quarter Earnings Approach
Major U.S. banks report third-quarter earnings starting this week amid oil price volatility.
CPI Release Scheduled
U.S. September Consumer Price Index release is set for the 14th, influencing Fed rate decisions.
Market Focus Shifts
Market attention turns to earnings and inflation data as oil prices remain elevated.
In short
Saudi Arabia's Riyadh airport attacked by Houthi rebels, pushing oil prices to $106.65 per barrel while semiconductor stocks fall.
