Sunday, July 25

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Dow falls 500 points as fears grow over spread of COVID-19 Delta variant

JOHANNES EISELE/AFP via Getty Images US stocks fell Monday as investors eye a spike in global COVID-19 cases led by the Delta variant, creating a roadblock to a full recovery of the economy. The Dow Jones Industrial Average fell over 500 points at the open. The yield on the 10-year Treasury note was 1.217%, down 8.2 basis points on the day, reflecting the pickup in investor desire for safe-haven assets.The rising cases, which may result in a new wave of lockdown restrictions, weighed on markets. The Delta variant, according to health experts, is the most transmissible variant yet. "The market appears ready to take on a more defensive character as we experience a meaningful deceleration in earnings and economic growth," Morgan Stanley strategists led by Michael Wilson said ...
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Oil holds above $75 as investors weigh OPEC+ deadlock with fresh talks ahead

LoadingSomething is loading. Oil futures held above $75 a barrel on Monday morning, as markets wait to see whether OPEC+ talks today can resolve the deadlock on an output deal driven by a clash between the United Arab Emirates and Saudi Arabia.The OPEC+ group of major oil-producing countries failed last week to come to agreement on output quotas for 2021 and...