Oil prices edged higher on global supply concerns, while defense stocks saw modest gains as geopolitical tensions persist. The VIX remained elevated, signaling ongoing market uncertainty.
- CL=F crude oil settled at $78.45, up 1.8% on supply concerns
- Defense stocks: Lockheed Martin +0.9%, Raytheon Technologies +1.2%
- ^VIX closed at 18.7, up 3.4% from prior session
- AAPL traded flat at $184.60 ahead of earnings
- S&P 500 ended flat at 5,213.41
- Geopolitical tensions driving volatility in energy and defense sectors
Crude oil futures climbed 1.8% to settle at $78.45 per barrel, driven by supply disruptions in the Middle East and tightening global inventories. The benchmark CL=F contract reflects growing caution over potential output constraints amid regional instability. Meanwhile, defense contractors posted mixed results, with Lockheed Martin and Raytheon Technologies advancing 0.9% and 1.2% respectively, as U.S. defense spending expectations remain firm through 2026. The broader market’s risk appetite was tested as the CBOE Volatility Index (^VIX) closed at 18.7, up 3.4% from the prior session—its highest level in six weeks. Apple (AAPL) traded flat near $184.60, reflecting investor caution ahead of the company’s upcoming earnings release. Market participants are monitoring central bank signals and inflation data for directional cues, as the S&P 500 closed flat at 5,213.41. Volatility in energy and defense sectors underscored the broader sensitivity to global macro risks.