Washington's decision to refrain from military action against Iran until after the midterms has led to cautious optimism among oil traders, with prices remaining above $108 a barrel. This situation is compounded by ongoing tensions in Ukraine, where Russian oil infrastructure has been targeted, potentially affecting global diesel supplies.
In the tech sector, speculation about Elon Musk's involvement in a slowdown of Starlink services for Ukraine has emerged, alongside a notable increase in SpaceX shares following strong earnings. eBay's announcement of cutting approximately 1,000 jobs, or 9% of its workforce, reflects broader trends in the tech industry as companies streamline operations amid economic uncertainty.
Meanwhile, BlackRock's Rick Rieder highlighted a 'historic' opportunity for investors in high-quality bonds, suggesting that yields above 7% are available with lower duration risk, which could attract cautious investors looking for stability in a volatile market