Skip to main content

AustraliaBreaking News

Bloomberg

Stocks Pare Oil-Fueled Rout on Trump's Assurances

A selloff in stocks and bonds was trimmed as assurances on American action to secure shipping lanes through the Strait of Hormuz amid the Iran war pared what had been an over 9% surge in oil. Following an earlier slide in the S&P 500 that reached 2.5%, the equity benchmark dropped less than 1%. President Donald Trump said the US will escort and insure tankers and other vessels through the world's most-critical energy chokepoint. Oil prices waned in post-settlement trading, with Brent trading near $80 a barrel. Don Calcagni, Chief Investment Officer at Mercer Advisors, joins Bloomberg Businessweek Daily to discuss. Calcagni also speaks about investment strategy amid a volatile backdrop. He speaks with Carol Massar and Tim Stenovec from the Bloomberg Invest conference in New York City.

Read more
Bloomberg

Aluminum Traders Brace for Turmoil as Iran Crisis Chokes Supply

The Iran war is sending shock waves through the global aluminum industry, with manufacturers facing a spike in prices and traders expecting widespread suspensions of supply contracts unless flows through the Strait of Hormuz resume quickly. Aluminum is the most ubiquitous industrial metal after steel, but in recent years the market has been periodically rocked by supply shocks that have exposed fragilities in the complex network of bauxite mines, alumina refineries and aluminum smelters that supply to manufacturers around the world often in highly specialized forms that can't readily be replaced. Timna Tanners, Managing Director of Equity Research at Wells Fargo Securities, joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Tim Stenovec from the Bloomberg Invest conference in New York City.

Read more