- U.S. stocks edged lower on Friday as investors weighed Israel’s attack on Iran.
- The missile strikes are seen as limited and symbolic and could serve as an outlet to avoid further conflict.
- Oil prices soared more than 3% in the wake of the attack, but all of that increase has since been wiped out.
U.S. stocks fell slightly on Friday as investors assessed Israel’s direct attack on Iran.
Reported missile attacks targeting key military facilities in Isfahan are seen as largely symbolic and could serve as an outlet to avoid further conflict.
“As with the situation leading up to last weekend, this response appears to have been successfully telegraphed, leaving minimal damage and casualties. News outlets say the retaliatory response was designed to de-escalate the situation. Commentary from Iranian intelligence sources suggests that there is no such response.”Immediate plans for retaliation,” said Michael Reinking, market strategist at the New York Stock Exchange. said.
Oil prices soared overnight on news of the strike, with WTI crude up more than 3%, but have since erased those gains and fallen.
Investors continue to digest U.S. results, with the latest mega-cap stock, Netflix, reporting first-quarter results.
Of the 13% of S&P 500 companies that have reported results so far, 77% have beat earnings estimates by a median of 7% and 55% have beat revenue estimates by a median of 3%, according to Fundstrat data. .
Here are the U.S. indices immediately after the 9:30 a.m. opening bell on Friday:
Here’s what else is happening today:
In Commodities, Fixed Income and Cryptocurrencies:
- West Texas Intermediate crude oil fell 0.74% to $81.49 per barrel. The international benchmark Brent crude oil fell 0.77% to $86.44 per barrel.
- Gold fell 0.29% to $2,391.10 per ounce.
- The yield on the 10-year US Treasury note fell 2 basis points to 4.60%.
- Bitcoin rose 1.81% to $64,663.
