CIBC: Oil Situation Going from Chokehold to Stranglehold

Gold held two days of gains, after the Federal Reserve said long-term US inflation expectations appeared to be in check even as the war continues in the Middle East.

Asian stocks looked set to track US peers lower, extending a selloff driven by fears the war in Iran may escalate. Treasuries advanced after Federal Reserve Chair Jerome Powell downplayed near-term inflation risks from higher energy prices.

Oil pushed higher after US President Donald Trump threatened an escalation of hostilities against Iran, raising fears the war is far from abating and global markets are poised for further chaos.

Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Glenmede’s Jason Pride, CIBC Private Wealth’s Rebecca Babin, Niles Investment Management Founder Dan Niles, Wealth Enhancement’s Ayako Yoshioka, Schwab Center for Financial Research’s Collin Martin, Former Kansas City Fed President Esther George, Teneo’s Kevin Kajiwara, & Former Senior Iran Advisor to President Obama Puneet