OPEC+ announced it was slashing output by 1.16 million barrels per day late Sunday night which has pushed oil prices higher and had a mixed impact on markets on the first trading day of the new quarter…
- Asian markets weren’t spooked by rising oil prices as major indices ended the day in the green. Shanghai closed up 23 points, or 0.72%, while the Nikkei and the Hang Seng Index ended the day up 0.52% and 0.04%, respectively.
- European markets are also in positive territory halfway through the trading day. London’s FTSE is up 53 points, or 0.71%, and France (CAC) and Germany (DAX) are up 0.48% and 0.10%, respectively.
MIXED: Market futures in the US were less than thrilled about rising oil prices with Nasdaq futures down 0.55% and S&P futures down 0.05% three hours before the open. Dow futures were the one bright spot up 0.33%.
- The 10-year treasury is looking to open up 4 basis points from Friday’s close (3.51%)