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In a busy week ahead, investors will monitor the rising tensions in the Middle East and the December jobs report.
Last Friday, stocks plunged and oil and gold prices spiked following a U.S. Drone attack that killed a top Iranian general. The Dow tumbled more than 230 points, and both the Dow and S&P 500 had their worst day in a month. Analysts are widely expecting geopolitical escalation and conflict in the region following the attack. For investors, however, the main question remains how a war between the U.S. And Iran would impact the economy and markets.
“The renewed surge in US-Iran tensions has pushed geopolitical risk back up the list of things to worry about in 2020,” Capital Economics wrote in a note Jan. 3. “But with the US no longer a net importer of oil products, the economy is likely to be resilient even if oil prices spike.”
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Iran has said it will retaliate against the assassination, and thus market reaction this week will be closely monitored following new developments.
