Xeneta analyst insight – Middle East war impact spreads to long term market
Peter Sand, Xeneta Chief Analyst: “The knock-on effect of almost half a year of disruption caused by war in the Middle East is now spreading into the long-term contract market. Average long-term rates from Far East to US West Coast and US East Coast are up 41% and 40% respectively since the end of February. ...
Wall Street experienced a mixed opening on Friday, Aug 14, just a day after the S&P 500 reached a record high. Investors were reviewing retail sales figures and evaluating the recent Middle East situation. The Dow Jones Industrial Average witnessed a slight increase of 2.8 points, or 0.01%, opening at 53,842.8. Meanwhile, the S&P 500 gained 7.6 points, or 0.10%, at an opening price of 7,806.6. The Nasdaq Composite, on the other hand, rose by 48.1 points, or 0.18%, to 26,851.148 at the beginning of trading.
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