Today's global markets: investors avoid equities as oil prices rise

 Today's global markets: investors avoid equities as oil prices rise

World markets today: As investors avoided riskier assets like equities, the price of crude oil increased. Gold and the US currency also rose.

Fears of a tighter supply caused a 5% increase in oil prices, pushing Brent crude futures to $89 per barrel and US crude futures to $87 per barrel. 

U.S. stock

The US market indexes on Wall Street recovered previous losses on Monday.

At 33,599.7, the Dow Jones Industrial Average increased by 192.12 points, or 0.58%. At 4,336.4, the S&P 500 increased 27.9 points, or 0.65%. At 13,490.04, the Nasdaq Composite rose 58.70 points, or 0.44%.

Due to Columbus Day, the US bond market was closed on Monday.

Currencies

The US dollar dropped from 149.35 Japanese yen to 148.48 yen. From $1.0593 to $1.0566, the euro decreased. 

The most recent Middle East war broke out amid continuous geopolitical tensions and anxiety about the expansion of the world economy.

Global investors have become risk-averse due to their concern of a wider war over the tensions in the Middle East.

In retaliation for a surprise Hamas attack on Saturday that left more than 700 Israelis dead, including at least 260 at a packed music festival that became the scene of one of the nation's worst civilian massacres, the Israeli military attacked hundreds of Hamas and Islamic Jihad targets in the Gaza Strip.

Israel said that its military had killed armed intruders coming into the country from Lebanon, sparking concerns that the conflict may now include two fronts.

On Monday, European equities fell as a result of military conflicts in the Middle East.

Leading the decline in the pan-European STOXX 600 index were firms in the retail and travel & leisure industries.

In Europe, the energy index increased 2.9% due to higher oil costs.

The FTSE 100 in Britain ended unchanged at 7,492.20. The DAX in Germany decreased 0.7% to 15,128.11. The CAC 40 in France dropped 0.6% to 7,021.40.

Asia 

in Monday, the Hang Seng Index of Hong Kong increased 0.2% to 17,517.40 in Asian stock exchanges. The Shanghai Composite in China fell 0.4% to 3,096.92.

There was a holiday in Japan.

The S&P/ASX 200 index for Australia increased 0.2% to 6,970.20. The benchmark S&P/NZX 50 index for New Zealand dropped 0.7% to 11,205.06. 

Gold for December delivery in bullion increased $19.10 to $1,864.30 an ounce. At $21.92 per ounce, silver for December delivery increased by 20 cents.