Wall Street on pace for another winning week as Israel-Lebanon ceasefire boosts hope
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Wall Street is on track for its third consecutive winning week as a ceasefire between Israel and Lebanon boosts optimism, causing oil prices to drop. U.S. stock futures rose, while European and Asian markets had mixed results.
Wall Street is poised for its third consecutive winning week following a ceasefire between Israel and Lebanon. U.S. President Donald Trump announced a 10-day ceasefire, which began early Friday and is currently holding. This development has boosted optimism for an extension of a tentative truce between Iran, the U.S., and Israel. Oil prices have fallen as a result, with U.S. crude sliding $3.39 to $87.78 a barrel and Brent crude dropping 3.2% to $96.15 per barrel. U.S. stock futures rose, with Dow Jones futures up 0.5% and S&P 500 and Nasdaq futures up following a 0.3% gain on Friday. Netflix shares plummeted over 10% after the company announced that cofounder Reed Hastings will step down from the board of directors. European markets had mixed results, with Britain's FTSE 100 down 0.2%, France's CAC 40 up 0.4%, and Germany's DAX gaining 0.5%. Asian stocks were mostly lower, with Tokyo's Nikkei 225 falling 1.8% and Hong Kong's Hang Seng dropping 0.9%.
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