Iran Attacks US Bases; Oil Jumps as Fighting Erupts | Bloomberg Daybreak: US Edition

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Iran fired on American forces overnight and the US and Saudi Arabia struck Tehran-backed militias in Iraq, abruptly ending a days-long lull in hostilities.

The US and Iran had paused attacks at the end of last week to give diplomacy another chance, leading to a significant drop in energy prices.

2) Oil surged as a fresh round of fighting erupted across the Middle East, threatening further disruptions to energy flows and severely undermining diplomatic efforts to end the months-old conflict.

Brent climbed almost 4% to above $87 a barrel, paring some of the 16% loss over the past three sessions that was its biggest such decline since 2020. Since the start of July, the benchmark has traded in range of almost $32.

3) US stocks edged higher as traders held off on major bets ahead of a US interest-rate decision where markets see room for a hike and earnings from two of the world’s biggest spenders on artificial intelligence.

S&P 500 futures rose 0.2%. Nasdaq 100 contracts were flat after a selloff in chipmakers left the underlying index on the brink of a technical correction. Treasuries stalled after three days of gains, with traders assigning about a 30% chance of a Federal Reserve rate increase. The dollar barely budged.

See omnystudio.com/listener () for privacy information.

Bloomberg Daybreak delivers today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 2,700 journalists and analysts in 120 countries.

Subscribe to Bloomberg Podcasts

Listen to more of Bloomberg DaybreakUS Edition

#Bloomberg #Podcast #News

Follow Bloomberg Podcasts on Twitter

Visit our other YouTube channels:

Bloomberg Television

Bloomberg Originals

For coverage on news, markets and more