Iran Tensions Push Oil Above $110, St Futures Slip
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- Trump administration is considering plans to occupy or blockade Iran's Kharg Island to pressure Iran to reopen the Strait of Hormuz.
- Brent crude rose 1.7% to above $110 a barrel, reversing earlier losses after hints of increased energy supply.
- CBOE volatility index edged up 1.72 points to 25.78, signaling heightened market fear.
- Dow E‑mins fell 0.52% (and S&P 500 E‑mins down 0.59%, Nasdaq 100 E‑mins down 0.82%), pushing the S&P 500 and Dow toward a fourth straight week in the red.
- FedEx shares jumped 10% in pre‑market trading after the company reported steady global demand and fuel surcharges sheltering profits.
- Halliburton and Cheniere Energy added 1% and 3% respectively, helping the S&P 500 sector index log its thirteenth consecutive week of gains.
Why it matters: Investors in broad market indexes see losses as the S&P 500 and Dow head for a fourth straight week in the red, while energy firms and FedEx gain from higher oil prices and fuel‑surcharge profits, highlighting a split between risk‑off sentiment and sector‑specific upside.
