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U.S. Stocks May Face a "Black Friday" as Stock Index Futures Fall Amid Surging Oil Prices
Svmuu News: U.S. stock index futures fell as soaring oil prices and the specter of an energy supply shock caused by the protracted war in the Middle East brought a turbulent week to a close. This has intensified inflation concerns and sparked market worries about potential damage to economic growth and corporate earnings. Adam Crisafulli, founder of Vital Knowledge, noted that U.S. stock index futures had been trading flat to slightly higher before Qatar warned that energy exports could be halted. Michael O'Rourke, chief market strategist at JonesTrading, said the market reaction was a “mechanical move” in response to rising crude oil prices. With active fund managers scaling back positions this week due to geopolitical uncertainty, mechanical models are now driving prices. (Jin Shi)
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