{"id":4485,"date":"2026-07-29T16:43:30","date_gmt":"2026-07-29T16:43:30","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=4485"},"modified":"2026-07-29T16:43:30","modified_gmt":"2026-07-29T16:43:30","slug":"fed-expected-to-hold-rates-as-iran-jordan-clash-reignites-war-fears-with-oil-prices-jumping-more-than-4","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=4485","title":{"rendered":"Fed expected to hold rates as Iran-Jordan clash reignites war fears, with oil prices jumping more than 4%"},"content":{"rendered":"
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Oil prices \u2014 which\u00a0had eased\u00a0from last week\u2019s\u00a0the two-month high\u00a0\u2014 rebounded as a\u00a0brief pause in fighting\u00a0in the Iran war was shattered. Jordan\u2019s air defenses intercepted five missiles launched from Iran early Wednesday, the country\u2019s military said, hours after the U.S. military said it had knocked down an Iranian missile barrage.<\/p>\n

Read more Fauci\u2019s diary shows he thought Covid could be man-made. Now he\u2019s telling Congress it was \u2018molecularly impossible\u2019<\/a><\/p>\n

The calm persisted for about three days following weeks of escalation over the strategic\u00a0Strait of Hormuz, the Persian Gulf waterway and narrow chokepoint through which 20% of the world\u2019s traded oil normally flows.<\/p>\n

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Brent crude, the international standard, jumped $3.71 to $85.79 a barrel. Benchmark U.S. crude gained $3.78 to $83.04 a barrel.<\/p>\n

Futures for the S&P 500 gained 0.2% in premarket trading, while futures for the Dow Jones Industrial Average lost 0.3%. Nasdaq futures rose 0.3%.<\/p>\n

Global markets were also mixed, with South Korea\u2019s Kospi stock index falling another 6% Wednesday as doubts over massive investments in\u00a0artificial intelligence\u00a0once again led investors to dump chipmakers\u2019 shares.<\/p>\n

Markets are also waiting for the Federal Reserve\u2019s latest decision on interest rates,\u00a0which comes later Wednesday. With inflation still well above its 2% target and unemployment still low at 4.2%, the U.S. central bank is not expected to raise or cut rates at this meeting. However, 76% of Wall Street traders foresee a rate hike in September, according to the\u00a0CME FedWatch tool.<\/p>\n

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While higher rates have a tendency to hurt stock prices, Fed officials are growing impatient with inflation, which has been above target for five years. Elevated oil prices since the war in Iran began in late February has contributed to higher prices for just about everything.<\/p>\n

In equities trading, Generac shares jumped 4.3% in premarket after the maker of backup power supplies breezed past Wall Street profit targets. The company said it is ramping up production to clear a backlog of orders for data center backup generators.<\/p>\n

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Shares of the consumer products company Procter & Gamble slid more than 3% after it said organic sales were flat in the fourth quarter. Wall Street had expected growth of 2%.<\/p>\n

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Meta, Microsoft and Starbucks all release their latest results after the closing bell.<\/p>\n

Read more Dr. Fauci, the Age of Big Players in science and what his diary reveals about the disputed origins of Covid<\/a><\/p>\n

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Elsewhere, at midday in Europe, Germany\u2019s DAX was unchanged, while the CAC 40 in Paris skidded 0.6%. Britain\u2019s FTSE 100 gained 0.3%.<\/p>\n

The latest rout in Seoul was led by a plunge in shares in chipmaker SK Hynix after its operating profit in the last quarter fell short of analysts\u2019 forecasts even though it soared nearly sixfold.<\/p>\n

The Kospi fell more than 8% earlier in the day, but closed 6% lower, at 5,663.24. The benchmark only recently had topped 9,000 before bouncing back down to its lowest level since early April.<\/p>\n

SK Hynix sank 9.4% while shares in Samsung Electronics dropped 4.8%.<\/p>\n

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Markets have been stricken by spates of selling of AI-related stocks as investors react to various developments including progress in China toward\u00a0cheaper, advanced AI models.<\/p>\n

Elsewhere in Asia, Tokyo\u2019s Nikkei 225 lost 1.5% to 61,434.19, giving up early gains. Shares in chipmaking equipment maker Tokyo Electron sank 10.6% and chip measuring and inspection systems maker Lasertec Corp. fell 8.3%.<\/p>\n

Japanese stocks were mixed in their reaction to\u00a0a major earthquake that rattled the southern Kyushu region\u00a0a day earlier. A previous earthquake in the region caused severe damage and disruptions for automakers and other manufacturers.<\/p>\n

Shares in Nippon Paper, owner of a mill in the disaster zone that was severely damaged by Tuesday\u2019s quake, fell 2.1%.<\/p>\n

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Taiwan\u2019s Taiex shed 3.8%.<\/p>\n

The Shanghai Composite index reversed early losses to pick up 0.4%. It closed at 3,830.02.<\/p>\n

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Hong Kong\u2019s Hang Seng gained 2% to 25,807.92.<\/p>\n

In Australia the S&P\/ASX 200 added 1% to 9,038.60 after the government reported that inflation has remained moderate, relieving pressure on the central bank to raise interest rates.<\/p>\n

Read more China\u2019s robot makers shipped 25x more units than U.S. rivals in 2025, so America banned them<\/a><\/p>\n

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India\u2019s Sensex added 1.1%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The central bank isn’t expected to move on rates Wednesday, but 76% of traders see a September hike as inflation stays above the 2% target.<\/p>\n","protected":false},"author":1,"featured_media":4484,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[103],"tags":[],"class_list":["post-4485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iran"],"yoast_head":"\nFed expected to hold rates as Iran-Jordan clash reignites war fears, with oil prices jumping more than 4% - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=4485\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed expected to hold rates as Iran-Jordan clash reignites war fears, with oil prices jumping more than 4% - 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