Inflation in focus as markets react to Middle East war signals
The US stock market is reacting to signals of a potential escalation of the war in the Middle East, with the S&P 500 posting a gain despite concerns over inflation and energy prices. The consumer price index report due next week is expected to show a jump in inflation, with the US average gasoline price rising above $4 a gallon for the first time in over three years.
The US stock market is watching the Middle East conflict closely, with the S&P 500 gaining despite a five-week streak of losses. The war's impact on oil supplies and energy prices is a major concern. US crude oil prices have topped $110 a barrel, and the US average gasoline price has risen above $4 a gallon. The consumer price index report due next week is expected to show a 0.9% monthly increase. The market is also awaiting the start of earnings season, with major companies like Delta Air Lines and Constellation Brands due to report. Investors are counting on strong corporate profits to support US stocks this year.
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