Blinken's diplomatic mission, corporate earnings, Rite Aid - what's moving markets
Investing.com -- U.S. Secretary of State Antony Blinken seeks to limit the extent of the conflict in the Middle East, while the focus on Wall Street turns to the new quarterly corporate earnings season. Rite Aid has filed for bankruptcy while crude prices consolidate after recent hefty gains.U.S.
However, tensions are rising as Iran, which backs Hamas, the dominant power in Gaza, warned Israel of escalation if it kept attacking Palestinians. Rite Aid has been named as a defendant, along with other pharmacy chains, in lawsuits that alleged they helped fuel the opioid crisis in the U.S.. Rite Aid also appointed Jeffrey Stein as its new CEO and chief restructuring officer, replacing interim CEO Elizabeth Burr, and announced it will close more of its underperforming stores.Oil prices edged lower Monday, consolidating after last week’s hefty gains as traders awaited any more developments in the Israel-Hamas war given the potential for a hit to global supply.
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