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8 a.m. ET: stock futures fall; Splash of oil and gold
US equity futures fell across the board, and oil and gold prices rose on Friday after the U.S. launched an airstrike that killed a top Iranian general.
Here are the main pre-IPO movements from 8:00 a.m.CET:
S&P futures (ES = F): 3,223.25, minus 35.75 points or 1.10%
Dow futures (YM = F): 28,564, minus 277 points or 0.96%
Nasdaq futures (NQ = F): 8,774.25, minus 117.50 points or 1.32%
crude oil (CL = F): $ 63.44 a barrel, up $ 2.26 or 3.69%
gold (GC = F): $ 1,549 per ounce, plus $ 20.90 or 1.37%
The United States confirmed that Iranian Maj. Gen. Qassem Soleimani was killed on Friday by an American drone attack ordered by President Donald Trump near Baghdad Airport. “This strike was aimed at deterring future Iranian plans to attack. The United States will continue to take all necessary measures to protect our people and our interests around the world, ”the statement said.
The 62-year-old was a leading Iranian commander and led the wars in Syria, Iraq, Lebanon and Yemen. The top Iranian leader promised "violent revenge" after the attack.
Due to geopolitical turmoil, news oil prices rose nearly 4%. "Higher oil prices mean a tax on oil consumers and a stroke of luck for producers," Pantheon Macro wrote in a note on Friday. "Global oil consumption is around 100 million barrels a day. Every fifth dollar corresponds to an annual tax of around $ 183 billion, or 0.1% of global GDP."
Gold prices were also boosted as investors flocked to safe investments. "Gold is a winner as tension increases and oil prices are higher," Societe Generale said in a note on Friday. "Bond yields are lower, the US stock rally has stalled, but has only turned dramatically after reversing. Safe haven and oil-sensitive currencies benefit in the currency market, but the yen is the clear winner."
Heidi Chung is a reporter for Yahoo Finance. Follow her on Twitter: @heidi_chung,
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