US Stock Futures Slip as Brent Tops $88 and September Rate-Hike Bets Hit 62%
Updated
Updated · Yahoo Finance · Aug 31
US Stock Futures Slip as Brent Tops $88 and September Rate-Hike Bets Hit 62%
3 articles · Updated · Yahoo Finance · Aug 31
Summary
Dow futures fell 0.1%, S&P 500 futures 0.2% and Nasdaq-100 futures 0.1% on Monday after U.S. strikes on Iranian rocket launchers renewed pressure on risk assets.
Brent crude climbed above $88 a barrel as traders worried the conflict could again threaten the Strait of Hormuz, reinforcing inflation concerns already elevated by the war in Iran.
September Fed hike odds rose to 62% over the weekend from about 40% a week earlier after Chair Kevin Warsh said at Jackson Hole that inflation was still running too hot.
Friday’s U.S. jobs report is now the next key test for markets, with earnings season largely over and Monday’s economic calendar relatively light even as major indexes remain on track for monthly gains.