What happened: The United States killed a top Iranian military leader in an airstrike at Baghdad's airport on Friday morning local time. Traders respond: Brent crude futures, the global benchmark for oil prices, shot up 4% to above $69 per barrel. US stock futures point lower, too, with the Dow set to tumble more than 300 points and the S&P 500 set to open down 1.3%. Heightened tensions between the United States and Iran support that outlook, he said. This weekend: We're watching to see how rising tensions between the United States and Iran unfold, which could affect the outlook for oil prices and stocks.

Source: CNN January 03, 2020 12:00 UTC