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Morning Bid: Rate-cut hopes meet Mid-East risks

Aug 26th, 05:02:32

A look at the day ahead in U.S. and global markets by Dhara Ranasinghe.

Not for the first time, financial markets are reminded why it's never a good idea to get too far ahead.

So, while Federal Reserve chief Jerome Powell's much-awaited Jackson Hole speech on Friday fueled the rate-cut optimism that has aided stocks' recovery from the early-August rout, the latest Middle East news highlights the need for caution.

Hezbollah launched hundreds of rockets and drones at Israel early on Sunday, as Israel's military said it struck Lebanon with around 100 jets to thwart a larger attack, in one of the biggest clashes in more than 10 months of border warfare.

Any major spillover in the fighting, which began in parallel with the war in Gaza almost a year ago, risks morphing into a regional conflagration drawing in Hezbollah's backer Iran and Israel's main ally the United States.

Iran's foreign minister was reported saying the country does not seek to increase Middle East tensions. Still, a rise of more than 1% in oil prices suggests some unease among investors that regional oil supplies could face disruption.

https://app.piqsuite.com/reuters/morning-bid-rate-cut-hopes-meet-mid-east-risks