Investing.com -- U.S. stock futures slump after fresh violence over the weekend between Israel and Hamas. The conflict's geopolitical ramifications spark a jump in oil prices, adding to concerns over inflationary pressures as crucial U.S. consumer price data looms later in the week. Elsewhere, activist investor Nelson Peltz reportedly plans a push for board seats at WaltU.S.
The tensions have also soured sentiment ahead of a raft of bank earnings in the coming days that typically kick off the quarterly parade of corporate financial results.The U.S. dollar climbed, with traders shying away from riskier assets for the relative safety of the greenback following clashes between forces from Israel and Palestinian group Hamas., which tracks the currency against a basket of its peers, had risen by 0.4% to 106.49.
The jump in oil has fueled concerns over a prolonged crude rally that may give renewed vigor to inflationary pressures, which could force central banks around the world to leave borrowing costs higher for a longer period of time.Nelson Peltz's Trian Fund Management is expected to request multiple seats on the board of Walt Disney, according to the Wall Street Journal.
Shares in the entertainment giant have slumped by over 6% so far this year despite a short-lived rise in the stock in February after the unveiling of a sweeping restructuring plan.Citigroup has agreed to sell its retail wealth management portfolio in mainland China to HSBC, the lenders said in statements on Monday.
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