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June 20, 2024
PI Global Investments

Stock Markets Today: War on Houthis, Big short cover, Bitcoin ETF, Deutsche Bank

Good morning. Airstrikes against Houthi rebels, a record block trade in fed fund futures and Deutsche Bank is in hot water. Here’s what people are talking about.

Oil jumped in Asian trading hours, with global benchmark Brent crude rising as much as 2.5% to above $79 a barrel, as the US and allies launched airstrikes against Houthi rebels in Yemen. The move marked a step-up in retaliation for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway. Meanwhile, in a televised speech earlier Thursday, Houthi leader Abdul Malik Al-Houthi vowed a “big” response to the US and its allies if they proceeded with military action against his group.

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