Search ForexCrunch

US indexes resume activity with a sour tone, all of them down at the weekly opening. The Dow Jones Industrial Average trades some 90 points lower, while the Nasdaq and the S&P lost between 0.20% and 0.30% in the first minutes of trading. Markets are on a lull, although rising oil prices are taking their toll on the market’s sentiment.

Oil prices soared to fresh yearly highs after the White House announced that President Trump has decided not to renew Iranian oil waivers, aiming to bring Iran’s oil exports to zero and denying the regime its principal source of revenue. According to Washington, countries importing oil from Iran will be subject to sanctions starting May 2.

It’s earnings season in the US, with no big names scheduled to release figures today, although many will unveil their results this week. So far, earnings have been upbeat, with banks leading the way and keeping indexes near record highs.