Market Outlook: Oil above US$100 adds pressure as equity risks build
BNN Bloomberg
Oil above US$100 is adding pressure on equities as geopolitical risks and uncertainty over inflation and growth cloud the outlook.
BNN Bloomberg spoke with Scott Chronert, head of U.S. equity strategy at Citi, who said uncertainty tied to the Iran conflict and shifting macro expectations is challenging earlier hopes for broader market gains.
Read the full transcript below:
LINDSAY: Oil, meanwhile, is back above US$100 a barrel, climbing after Tehran ruled out direct talks with Washington to help resolve the Middle East conflict. The rebound follows Monday’s sharp selloff. What does this mean for the broader market? Let’s get some perspective from Scott Chronert, head of U.S. equity strategy at Citi. Good morning, it’s good to have you with us.
SCOTT: Hi, Lindsay. Good to see you.
LINDSAY: Markets were broadening earlier this year — you’ve pointed that out. How is the war in Iran weighing on your outlook now?
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