Stock Market Set for Lower Open Amid Middle East Tensions, Rising Oil Prices and Apple Event
The stock market is expected to open lower on Wednesday as rising oil prices due to escalating tensions in the Middle East continue to weigh on investor sentiment. Brent crude has surpassed $100 per barrel for the first time since mid-July following attacks by Iran-backed Houthi rebels and retaliatory airstrikes from Saudi forces. Apple (AAPL) is set to unveil its new iPhone 18 lineup, including a foldable model, in its first major product event under CEO John Ternus. The company has raised prices on previous products due to rising component costs, leading analysts to expect higher pricing for the latest iPhones. Treasury yields are also climbing ahead of an announcement about bond buybacks expected later today. Casey's General Stores (CASY) is experiencing a drop in its stock price after reporting earnings.
Topics: earnings report geopolitical tensions oil prices product launch stock market open