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BlockBeats cited strategist Brian Jacobsen, who stated that, in addition to the oil price shock, AI investment demand and rising hiring costs for technical roles could also become inflationary factors of concern to the Federal Reserve.
The morning brief reports that a preliminary understanding in US-Iran nuclear talks and short covering drove the S&P 500 up 2.35%, while oil prices fell nearly 8%; Nvidia was the only Magnificent Seven company to close lower.
Citi analysts said that the results of the US midterm elections may slow AI spending and drive funds toward non-AI assets, which could benefit Indian stock markets. Citi raised its December 2027 target for the Nifty 50 index to 28,000 points.
Bank of America interest rate strategist Ralph Axel warned that if oil prices continue to rise over the next 3 to 6 months, inflationary pressures may prompt investors to demand higher interest rates and increase household borrowing costs.
Bank of America Securities said in a research report that if oil prices and refined product prices rise further over the next three to 6 months, interest rates could move significantly higher. It believes rising energy inflation may reduce the constraints on the Federal Reserve's rate hikes.
According to Bitget market data, Brent crude rose 1.00% intraday to 98.82 USD/barrel; WTI crude rose 0.74% to 91.84 USD/barrel.
Trump made his first public appearance since the Republican Party’s midterm election defeat, stating that he would not replace Defense Secretary Hagel and noting that Iran-related wars have temporarily driven up oil prices and affected the election.
November 4, Brent crude falls below 100 USD per barrel, with an intraday decline of 3.60%. Iran and Pakistan also issued statements signaling efforts to ease regional tensions.
According to The Wall Street Journal, Trump said the Iran war was partly responsible for the Republican Party's midterm election losses and stated that he does not regret launching the war; he believes rising oil prices are the greater political burden.
BlockBeats published a headline discussing whether the post-midterm election rally in US stocks can withstand war and rising oil prices.
Bloomberg's aggregated tanker tracking data showed that combined crude oil exports from Saudi Arabia, the UAE, Iraq, and Kuwait in October increased by approximately 10% month-on-month, returning to levels seen before the February conflict. The report also noted that Brent and WTI fell by about 7% on Monday amid rising supplies and expectations for US-Iran negotiations.
The Wall Street Morning Brief says the Federal Reserve paused rate hikes, the three major U.S. stock indexes closed higher, and memory and optical communications stocks performed strongly; Amazon, Intel, SanDisk, Coinbase, and Strategy will release earnings after the close.
