Against the backdrop of Trump’s speech: contracts are falling sharply, oil is soaring

14:44

The declines in Europe worsen: the DAX loses 2.2%, the KAC falls by about 1.3%, and the FTSE falls by about 0.5%.

Oil prices register another jump at this time: Brent oil jumps by about 8.2%, American oil climbs by about 9.3%, their prices are now around $109 each.

All of this against the background of the speech given tonight by US President Donald Trump, during which he claimed that the United States’ goals in Iran are close to being fully achieved, and added that Washington will hit Iran “with great force” during the next two to three weeks – information that may indicate the worsening of the conflict and raises the concerns of investors.

On the Strait of Hormuz he said: “Other countries should seize and cherish it. We can help but they have to lead. For the affected countries, I have a proposal – buy oil from the US, and take the strait – Iran has been hit hard, the hard part has already been completed.”

Wall Street futures show declines of up to 2%.

13:56

The declines in the European stock markets are deepening at this time: the DAX falls by about 1.9%, the CAC loses 1.1%, and the FTSE drops by 0.2%.

The futures on Wall Street also show a negative trend: the Dow Jones index loses 1%, the S&P 500 falls by 1.2%, the Nasdaq falls by about 1.6%.

13:10

US government bond yields are climbing today, after Trump’s speech tonight indicated that the war with Iran will continue for several more weeks. The yield on the 10-year bonds rises nearly 5 basis points to a level of 4.368%. The yield on the 2-year bond rises by nearly 4 basis points to 3.840%.

Wall Street futures are down 1.4% today, erasing last night’s gains.

Today (Thursday) will be the last trading day for this week, on the occasion of “Good Friday”, during which there will be no trading in Europe and Wall Street. Also, the full employment report for the month of March is expected to be published in the US tomorrow.

11:29

The main indices in Europe continue to trade in declines. The DAX falls by about 1.4%, the CAC loses 0.9%, and the FTSE trades with a slight decrease of 0.1%.

Oil prices continue to rise at this time, with Brent oil jumping by 7.3% and its price stands at $108 per barrel. American crude oil climbs by about 6.8%, and its price stands at $106 per barrel.

European stocks that stand out in decline: Siemens , Deutsche Bank andBayer .

10:10

After closing in a positive trend last night, the European stock markets open this morning in the red, in light of Trump’s nightly speech and his promise that the war with Iran will escalate in the next two or three weeks. The DAX loses 1.4%, the KAC drops by about 1.3%, and the FTSE drops by about 0.7%.

Asian stock markets closed lower, led by the South Korean Kospi which plunged 4.4%. The Nikkei fell 2.4%, the Shenzhen lost 1.8%, and the Shanghai closed down 0.7%.

Oil prices continue to rise: Brent oil is now climbing by 6.4% and stands at around $107 per barrel, WTI oil jumps by about 6% and its price is around $106.

08:30

The stock markets in Asia continue to operate in a negative trend. The Kospi falls about 4.2%, the Nikkei loses 2.4%, the Hang Seng and the Shenzhen fall about 1.4% each, and the Shanghai Index loses 0.7%.

In the commodity market, the price of Brent oil is now up by about 5.7% and is trading around $106. WTI oil jumps by about 4.7% and its price is about $104. The increases in oil come after Trump’s speech tonight, during which he announced that the war with Iran may intensify over the next two to three weeks, although he assured that the goals of the war are close to being fully achieved.

The price of gold is now down about 2.5% and is trading around $4,690 per ounce. In the crypto market, Bitcoin is down about 2.8% this morning, so it is trading around $66,000.

The futures on Wall Street continue to indicate declines of up to 1.6%.

Nike fell by 15% yesterday, after the footwear company reported that revenues in the current quarter are expected to fall between 2% and 4%, mainly due to a sharp drop in sales in China. The company recorded revenues of $11.3 billion in the quarter that ended on February 28, above Wall Street forecasts, but unchanged from last year. However, the turnaround process under CEO Elliot Hill is still faltering. “Parts of the process are taking longer than I would like, but the direction is clear,” Hill said.

The clothing company PVH owner of the Tommy Hilfiger and Calvin Klein brands, rose 9% yesterday after reporting earnings of $3.82 per share and revenue of $2.51 billion in the fourth quarter. Early expectations were for earnings per share of $3.31, and revenues of $2.43 billion.

07:06

The stock markets in Asia, which opened the trading day with gains, moved to sharp declines in the last few hours, against the background of the speech given tonight by US President Donald Trump. The Seoul Stock Exchange leads the gains, plunging about 4.4% in the Kospi index. In Japan, the Nikkei is now falling by 2.2%. The Hang Seng and Shenzhen indices are losing 1.1% each, and the Shanghai index is down about 0.5%.

During his remarks, Trump claimed that the goals of the United States in Iran are close to being fully achieved and that “all the cards are in our hands” in the framework of the conflict. He added that Washington will hit Iran “with great force” during the next two or three weeks.

Earlier yesterday, Trump claimed that the president of Iran’s “new regime” had asked the US for a cease-fire – a claim denied by Tehran. Trump added in a post on the Truth network that the US would consider the offer only after the Strait of Hormuz was “open, free and safe for passage”. This is in contrast to his previous statements, according to which he was ready to end the military campaign against Iran even if Egypt remained closed.

After the speech, futures in New York point to significant declines of up to 1.4% at the opening of trading.

Oil prices also jump sharply again this morning: the price of Brent oil rises by about 6.3% and trades around $107. WTI oil jumps by about 5.2% and its price is about $105.

Last night, US stock markets closed higher. The Dow rose 0.5%, the S&P 500 rose 0.7%, the Nasdaq closed 1.1% higher.