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Stock impact report

Oil surges on tanker attacks; stocks rise on Fed rate cut expectations [Reuters (UK)]

Prudential Financial, Inc. (PRU) 
Last prudential financial, inc. earnings: 2/4 04:18 pm Check Earnings Report
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: Reuters
Oil surges on tanker attacks; stocks rise on Fed rate cut expectations - Reuters 4 Min Read NEW YORK (Reuters) - Oil futures rose on Thursday after attacks on two tankers off the coast of Iran, while the U.S. Treasury yield curve steepened and stocks rose following economic data seen as strengthening the case for the Federal Reserve to cut interest rates this year. Wall Street’s major stock indexes closed higher after falling for two days as investors regained their appetite for risk assets. The number of Americans applying for unemployment benefits unexpectedly rose last week, potentially adding to concerns about the U.S. labor market after May job growth slowed. Other data showed import prices fell by the most in five months in May in the latest indication of muted inflation pressures, adding to expectations the Fed will cut rates this year. “There are still concerns over geopolitical risk,” said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. “ Show less Read more
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