Oil shock and geopolitical tensions dominate market outlook. U.S. equities showed resilience last week as the S&P 500 snapped a five-week losing streak, yet the broader picture remains fragile after the index logged its weakest quarterly performance since 2022. Oil prices surged past $110 per barrel, driven by supply concerns and disruptions in critical transit routes like the Strait of Hormuz. This energy spike has rippled through the economy, pushing U.S. gasoline prices above $4 per gallon for the first time in over three years. Investors are now focused on the April 10 consumer price index data to gauge how deeply the oil shock is feeding into inflation. Markets have scaled back expectations for interest rate cuts this year as persistent price pressures complicate the Federal Reserve's path forward.
Post from MarketNews_en
Log in to interact with content.