October 18, 2024

Stock Market News: Dow Set to Open Up as Netflix Earnings Lift Tech Stocks

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Oil prices are broadly stable in early trading but still on track for a weekly loss of around 6%.

Brent crude and WTI were both flat at $74.45 and $70.70 a barrel, respectively, after settling higher in the previous session following an unexpected weekly draw in U.S. crude stocks.

Meanwhile, China’s economy slowed in the third quarter, highlighting the urgency to roll out measures to boost growth, but retail sales and industrial production showed signs of stabilization in September.

Concerns over sluggish oil demand in the world’s second largest economy are weighing heavily on prices, but crude is still finding underlying support from heightened geopolitical tensions in the Middle East, with markets now waiting for further developments after Israel killed Hamas leader Yahya Sinwar.

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