Israel declares war on Hamas, oil jumps: Yahoo Finance Live
10/09/2023 21:13Rising global tensions are adding to an already volatile U.S. market. Israel has declared war on Hamas after the militant group staged a massive assault in the country over the weekend. The conflict has left over 1,000 people dead, with the death toll expected to rise. Oil prices have jumped in response to the attacks. Yahoo Finance will keep you updated all day with expert analysis and market reactions to the conflict.Top guests today include:9:00 a.m. ET - Chris Versace, Tematica Research Chief Investment Officer9:40 a.m. ET - Shehzad Qazi, China Beige Book International Managing Director11:00 a.m. ET - Matt Miskin, John Hancock Investment Management Co-Chief Investment Strategist
Reuters
CORRECTED-UPDATE 3-Israel shuts down major offshore gas field amid violence
Israel has suspended production at the Tamar gas field off its southern coast and will seek alternative fuel sources to meet its needs, the energy ministry said on Monday following three days of violence in the region. Chevron, which operates the field, confirmed it had been instructed by the ministry to shut down the field, which is a major source of gas to Israel's power generators and industry. Some of Tamar's gas is also exported to neighbouring Jordan and Egypt.
Bloomberg
Largest Intel Failure in Israel Military's History: Middle East Forum
"This was the largest operational and intelligence failure in the history of the Israeli military and Israeli government." Gregg Roman, director of the Middle East Forum think tank, talks about the shock attack by Hamas within Israel. The combined death toll from the attack has climbed to more than 1,100 as fighting entered a third day. Roman speaks with Yvonne Man, David Ingles and Rishaad Salamat on "Bloomberg Markets: Asia."
The Telegraph
Why Britain is on the verge of a cataclysmic financial crisis
Even almost four decades later, it remains an event scarred into the memory of the financial markets. After a violent storm had ripped across the country, knocking down trees and shuttering roads, trading systems that still relied on brokers shouting at each other across open floors had closed early for the weekend as the damage was cleared up.
Reuters
JPMorgan asks 200 staff in Israel to work from home - source
JPMorgan Chase has asked its staff in Israel to work from home for the near future, a person familiar with the matter told Reuters on Monday, after a surprise attack by Palestinian Islamist group Hamas set off a violent conflict between the two sides.
The Wall Street Journal
Energy Stocks Jump, Airline Stocks Fall
Energy companies' stocks rose in early trading, echoing a [runup in oil prices](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-10-09-2023/card/oil-prices-jump-on-israel-crisis-iQK4shbdqlmvb0RXMqJf) as the Israel-Hamas conflict intensifies.
Bloomberg
Yield Surge to Hit US Growth But Still No Recession, Goldman Says
(Bloomberg) -- Goldman Sachs Group Inc. economists said the surge in US Treasury yields to historically high levels over the last several weeks will crimp economic growth and sow financial risks, though the bank is still not calling for a recession.Most Read from BloombergIsrael Latest: Over 1,100 Dead; US Sends Warships to RegionIsrael Latest: Army Reserves Called Up, Chevron Shuts Gas FieldOil Surges as Israel Conflict Reignites Middle East VolatilitySchumer Confronts Xi on Israel-Hamas Stance
TipRanks
Goldman Sachs Says Buy These 2 Tech Giants as the Upcoming Earnings Season Is a Potential Catalyst
Most of 2023 has been defined by the big tech stocks driving bullish sentiment and overcoming 2022’s bear market. That said, since about halfway through the summer, the bull market has been on pause with the prospect of interest rates remaining high for longer than expected, among other macro factors, putting a dampener on proceedings. Still, going by the past week’s performance, there are signs the bulls’ charge is about to resume in earnest. In fact, with Q3 earnings season about to commence,
Reuters
Oil prices jump as Middle East turmoil roils markets
LONDON (Reuters) -Oil prices surged more than 3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears that a wider conflict could impact oil supply from the Middle East. Brent crude was up $3.07, or 3.6%, to $87.65 a barrel by 1341 GMT, while U.S. West Texas Intermediate crude was at $86.15 a barrel, up $3.36 or about 4.1%. "The attack on Israel has added some additional risk premium to oil prices as the market is already extremely tight as a result of the OPEC+ output restrictions and this could in theory squeeze supply further," said OANDA Craig Erlam.
Reuters
Oil, gold and bonds gain on Middle East conflict while stocks slide
Conflict in the Middle East lifted oil, gold and safe-haven government bonds and hurt global stocks and Israeli assets on Monday after Friday's sizzling September U.S. jobs report raised the rate stakes for inflation figures later in the week. Israeli government bonds fell, with the 2120 'Hundred Year' bond down 5.3 cents on the dollar at a record low. Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when Islamist group Hamas killed 700 Israelis and abducted dozens more.
AP Finance
UK's Labour Party says it will invest for growth, as violence in Israel hangs over its conference
Britain’s main opposition Labour Party said Monday that it will focus on economic growth rather than higher taxes to “rebuild” the country after more than a decade of Conservative rule. Labour economy spokeswoman Rachel Reeves told delegates at the party's annual conference that “Labour will tax fairly and spend wisely.” “But I must tell you, you cannot tax and spend your way to economic growth,” she said.
Bloomberg
Aftermath of Israeli Rocket Attacks in Gaza Strip
Buildings were destroyed and cars turned upside down as Israel continued its retaliatory strikes on the Gaza Strip, Monday. Airstrikes had destroyed 159 housing units across Gaza and severely damaged 1,210 others, the United Nations said on Sunday.
SmartAsset
Temporary Tax Plan Could Boost Your Standard Deduction By Up to $4,000
A House panel has passed a bill that would temporarily expand the standard tax deduction used by the majority of taxpayers by $2,000 per person for the next two years. The Tax Cuts for Working Families Act (H.R.3936) recently approved by … Continue reading → The post Temporary Tax Plan Could Boost Your Standard Deduction By Up to $4,000 appeared first on SmartAsset Blog.
SmartAsset
I Have $750K in a Roth IRA and Will Receive $1,800 Monthly From Social Security. Can I Retire at 65?
Can you retire at 65 with $750,000 in a Roth IRA and $1,800 in monthly Social Security? Based on median incomes and the 10x rule, most people will need about $740,000 to finance a secure retirement. So in theory, a $750,000 Roth IRA and $1,800 in Social Security benefits will be enough for many individuals […] The post I Have $750K in a Roth IRA and Will Receive $1,800 Monthly From Social Security. Can I Retire at 65? appeared first on SmartReads by SmartAsset.
The Wall Street Journal
Evergrande Investors Warn of ‘Uncontrollable Collapse’
Evergrande’s 11th-hour cancellation of a $19 billion debt restructuring could lead to a messy collapse and have “a catastrophic effect” on other troubled companies in the sector, its bond investors said.