U.S. stocks slip, oil surges on Middle East violence

SYDNEY - U.S. stock futures slipped in Asia on Monday as the military conflict in the Middle East boosted oil and Treasuries, while the sizzling September U.S. jobs report raised the rate stakes for inflation figures later in the week.

The danger of disruptions to supply was enough to see Brent jump $2.93 to $87.51 a barrel, while U.S. crude climbed $3.04 to $85.83 per barrel. In currency markets, the yen was the main gainer though moves were modest overall. The euro dipped 0.3% to 157.44 yen, while the dollar dipped 0.1% to 149.14 yen. The euro also eased 0.3% on the dollar to $1.0556.

While Tokyo was closed, Nikkei futures were trading down 0.7% and near where the cash market ended on Friday. Median forecasts are for 0.3% gain in both the headline and core measures, which should see the annual pace of inflation slow a touch.

Source: News Formal (newsformal.com)

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