The Daily Chase: Stocks, oil look to pare losses; Bausch suspends skin-care IPO

Equity market futures are pointing to a modestly higher open after yesterday’s rout sent stocks swooning.

OIL PARES LOSSES

Oil prices are paring their losses. At last check, West Texas Intermediate was back above US$118 per barrel – but it’s been an ugly week for crude overall. WTI is heading for its first weekly decline since April amid those recessionary fears, and the potential for a rising U.S. dollar to take a bite out of commodities priced in greenbacks. All that said, oil is still up more than 50 per cent this year as the Russian invasion of Ukraine stokes fears of supply disruptions, and you’ll remember the IEA said just this week that global demand will exceed pre-pandemic levels next year.

BAUSCH SUSPENDS SKIN-CARE IPO