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US Equity Markets End Lower as Oil, Treasury Yields Gain Amid Middle East Tensions

MT Newswires Live10-24 04:22

US equity indexes fell Friday as government bond yields and crude oil prices climbed amid rising tensions in the Middle East.

* S&P Global's October flash reading of manufacturing conditions rose to 56.0 from 55.9 in September, versus the 55.5 forecast in a Bloomberg survey, indicating an expansion to a 53-month high.

* The final October reading of the University of Michigan consumer sentiment index was 48.0, above the preliminary estimate of 46.3 and compared with expectations for no revision in a Bloomberg survey.

* Iran has drawn up detailed plans to target undersea communications cables in the Gulf if the US and Israel attack Iran again, two senior Iranian security officials told Reuters.

* Saudi Aramco ordered the evacuation of its headquarters in Dhahran as fighting intensified with the Iran-aligned Houthis, Reuters reported.

* December West Texas Intermediate crude oil rose $4.22 to $103.69 per barrel, while December Brent crude, the global benchmark, was last seen up $4.05 at $117.22.

* Bloom Energy's (BE) shares fell 11%, the biggest drop on the S&P 500. The stock faces near-term pressure after higher working capital requirements eroded Q3 cash flow, Oppenheimer said.

* Crown Castle (CCI) shares rose 9.1%, the top gainer on the S&P, a day after Bloomberg reported the company is among those in discussions with Space Exploration Technologies (SPCX), which plans to secure at least 80,000 cell sites across the US.

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