By Avinash P and Purvi Agarwal
Aug 11 (Reuters) - The S&P 500 and Nasdaq slipped in choppy trading on Tuesday, weighed down by heavyweight tech stocks, as investors **** sed a report suggesting the United States and Iran were close to "some sort of an arrangement".
Pakistani defence minister Khawaja Asif told Bloomberg News that signals from recent days indicated a peace agreement was close, right after Qatar's foreign ministry said Iran-Oman talks on shipping in the Strait of Hormuz were in an advanced stage.
Brent crude futures turned lower after reaching their highest level in over a week. Rising energy costs have spurred inflation concerns and complicated the paths of central banks globally.
"When you get some indication of something positive happening — that this war is going to come to an end or some kind of an agreement — you start to see oil back off. Any positive news is better than negative news," said Robert Pavlik, senior portfolio manager at Dakota Wealth.
#avinash
Aug 11 (Reuters) - The S&P 500 and Nasdaq slipped in choppy trading on Tuesday, weighed down by heavyweight tech stocks, as investors **** sed a report suggesting the United States and Iran were close to "some sort of an arrangement".
Pakistani defence minister Khawaja Asif told Bloomberg News that signals from recent days indicated a peace agreement was close, right after Qatar's foreign ministry said Iran-Oman talks on shipping in the Strait of Hormuz were in an advanced stage.
Brent crude futures turned lower after reaching their highest level in over a week. Rising energy costs have spurred inflation concerns and complicated the paths of central banks globally.
"When you get some indication of something positive happening — that this war is going to come to an end or some kind of an agreement — you start to see oil back off. Any positive news is better than negative news," said Robert Pavlik, senior portfolio manager at Dakota Wealth.
#avinash
2 months ago
