The Globe and Mail reports in its Tuesday edition that Nasdaq closed lower on Monday as oil prices jumped nearly $2 (U.S.) a barrel after attacks on a Saudi airport, and investors waited for banks to kick off the third-quarter earnings season and for economic data this week.
A Reuters dispatch to The Globe says S&P 500 closed nearly flat while the Dow was higher. Oil futures rallied after deadly strikes on Riyadh's international airport over the weekend. The attacks overshadowed the prospect of increased supplies after President Donald Trump hailed fresh Russian diesel exports and talked about a Russia-Ukraine ceasefire on energy targets.
In coming days, U.S. investors will focus on corporate earnings, with major U.S. banks including Goldman Sachs, Citigroup and JPMorgan reporting early on Tuesday. Analysts were expecting S&P 500 earnings to surge 30.6 per cent in the third quarter.
Also due out this week are September readings for U.S. consumer and producer inflation data as well as retail sales data. While the U.S. Treasury market was closed on Monday for Columbus Day, stock investors have been wary of bond yields' recent advance to 24-year highs as elevated energy prices have stoked inflation concerns.
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