Aussie Stocks Dip, Gold Surges Amid Middle East Tensions

0:00From Sydney, this is your March 2nd update. Australian stocks look set to dip today after a subdued night on Wall Street. Oil prices have spiked above $79 a barrel as tensions flare in the Middle East from ongoing U.S. and Israeli strikes on Iran. Fears of a drawn out conflict are weighing on markets. With worries, it could derail the global economic rebound and spark fresh inflation that sent investors rushing to save havens like gold. Gold climbed 1.2% to $5,340 an ounce. Wall Street ended mixed, the Dow off 3.10% of a percent, the S&P basically flat and the Nasdaq of 2.10s. Brent crude jumped 9.1% to $79 and 36 cents a barrel, while U.S. crude rose 8% to $72. Dollars and 36 cents. ASX futures points with 3.10s dropped to $9,132. The Australian dollars slipped half a percent to 70 U.S. cents and 8,100s.

1:00Iron ore, edged up 8.10s of a percent to $99.10 a ton as trading gets underway. We'd like to thank our sponsor for making this episode possible. When you want calm, do not reach for your phone. Lay back and listen, S-O-L-I, solelypillow.com.