FYI: U.S. stocks fell and haven assets like gold gained after a weekend attack on Saudi Arabian oil facilities sent crude prices surging.
The Dow Jones Industrial Average shed 142 points, or 0.53%. The S&P 500 lost 0.31%, with nine of the 11 sectors in the index in the red. The energy sector was among the only gainers, up 3.4%. The Nasdaq Composite dropped 0.28%.
U.S. oil futures rallied 15% to $62.90 a barrel, their largest one-day rise since January 2009, after attacks on Saudi oil production facilities Saturday knocked out 5.7 million barrels of daily production. The last time U.S. crude futures gained at least 10% in a day while all three major U.S. indexes slumped was in the depths of the financial crisis on Feb. 19, 2009, according to Dow Jones Market Data.
Brent crude, the global oil benchmark, rose 15% to settle at $69.02 a barrel, its biggest percentage gain on record based on data going back to 1988, according to DJMD. It had earlier jumped as much as 19.5% at $71.95 a barrel, but retraced some of those gains after initial concerns over oil output ebbed on Saudi vows to restart production.
U.S. energy companies saw benefits from the supply disruption, with Devon Energy up 13%, Marathon Oil rising 12% and Hess up 11%. Meanwhile, shares of airlines slumped as investors fretted over what the potential impact of higher fuel prices could mean for profits. Shares of American Airlines, Delta Air Lines and United Airlines shed at least 2% apiece.
Gold added 0.8% to settle at $1503.10 a troy ounce, and the Japanese yen rose 0.1% against the U.S. dollar.
The currencies of oil-producing countries strengthened against the dollar, with the Russian ruble up 0.6%, the Norwegian krone up 0.5% and the Canadian dollar up 0.4%. Energy-importer Turkey saw the lira fall 0.7% against the dollar.
The yield on the 10-year U.S. Treasury note fell to 1.843%, down from 1.901% Friday. Last week, it rose the most since June 2013.
Elsewhere, the Stoxx Europe 600 fell 0.6%. In Hong Kong, the Hang Seng Index fell 1.1% after another weekend of violent protests. South Korea’s Kospi rose 0.6% and the Shanghai Composite was flat. The Japanese stock market was closed for a holiday.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-09-16/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/dow-poised-to-snap-8-session-win-streak-as-oil-markets-historic-supply-disruption-rattles-2019-09-16/printWSJ:
https://www.wsj.com/articles/u-s-stock-futures-retreat-as-oil-prices-jump-11568603822Bloomberg:
https://www.bloomberg.com/news/articles/2019-09-15/yen-gains-after-saudi-oil-attack-oil-set-to-rise-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-end-win-streak-despite-stocks-gains/CNBC:
https://www.cnbc.com/2019/09/15/dow-set-to-fall-on-fears-spiking-oil-will-slow-the-global-economy.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-hit-by-saudi-attacks-energy-stocks-temper-losses-idUKKBN1W11AJU.K:
https://uk.reuters.com/article/uk-britain-stocks/oil-majors-curb-ftse-losses-as-crude-surges-after-saudi-attacks-idUKKBN1W10M9Europe:
https://www.reuters.com/article/us-europe-stocks/european-stocks-wilt-after-saudi-attack-though-oil-shares-jump-idUSKBN1W10L7Asia:
https://www.cnbc.com/2019/09/16/asia-stocks-sept-16-saudi-arabia-oil-drone-attacks-oil-china-economy.htmlBonds:
https://www.cnbc.com/2019/09/16/us-bonds-investors-seek-shelter-after-saudi-oil-attacks.htmlCurrencies:
https://www.cnbc.com/2019/09/16/forex-markets-saudi-oil-plant-attacks-in-focus.htmlOil:
https://www.cnbc.com/2019/09/15/us-crude-oil-jumps-15percent-after-drone-strikes-disrupt-saudi-crude-production.htmlGold:
https://www.cnbc.com/2019/09/16/gold-surges-more-than-1percent-on-global-turmoil-but-silver-rises-more.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
