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A prolonged conflict between Israel and Iran may do more than rattle energy markets. One argument on Wall Street is that it could push the Federal Reserve to cut interest rates sooner than expected. "A sustained rise in oil prices could cause the Fed to strike a more dovish tone," Oxford Economics chief US economist Ryan Sweet wrote in a recent note to clients, arguing that an extended oil shock could dent demand and potentially spill over into an otherwise resilient labor market. That's because, historically, sudden spikes in oil...

US stock futures fell with investors on edge as Israel and Iran continued to trade strikes against a backdrop of shifting US trade policy and stubborn interest rates. Futures attached to the Dow Jones Industrial Average (YM=F) fell 0.4%. Futures attached to the benchmark S&P 500 (ES=F) sank 0.5% and the tech-heavy Nasdaq 100 (NQ=F) stumbled 0.6%. On Monday evening, Trump called for the evacuation of Iran's capital city, Tehran, as Israel pledged to continue attacking the country. "Iran should have signed the 'deal' I told them to sign," the...

Israel has attacked Iran in the largest recent escalation of tensions in the region. Markets reacted swiftly to the news, with the three major gauges all plunging over 1%. Gold (GC=F) and oil prices surged with investors scurrying to safer assets, hoping to avoid the worst of a financial shake up. Iran is the third largest producer of oil within OPEC+, and the attack has caused prices to surge over 5%. Brent crude (BZ=F) futures jumped 5.5% to $73.27 a barrel while West Texas Intermediate surged 5.9% to $72.05 a...

Iran’s rial currency traded Saturday at a record low against the U.S. dollar as the country returned to work after a long holiday, costing over 1 million rials for a single greenback as tensions between Tehran and Washington likely will push it even lower. The exchange rate had plunged to over 1 million rials during the Persian New Year, Nowruz, as currency shops closed and only informal trading took place on the streets, creating additional pressure on the market. But as traders resumed work Saturday, the rate fell even further to 1,043,000...