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US stock futures slip as US-Iran tensions and bank earnings loom
Dow Jones futures were down 0.26%, with S&P 500 futures down 0.03% and Nasdaq 100 futures down 0.42% during European trading, as investors awaited fresh Wall Street lender results and US CPI.
US stock futures edged lower in European trading as sentiment stayed cautious amid escalating US-Iran tensions. FXStreet said Dow Jones futures fell 0.26% to around 52,620, while S&P 500 futures slipped 0.03% near 7,560 and Nasdaq 100 futures dropped 0.42% to roughly 29,600.
The risk-off tone follows a weaker session on Monday, when US equities closed lower after a sharp sell-off in technology. The Nasdaq Composite fell 1.55%, the S&P 500 declined 0.79%, and the Dow Jones Industrial Average lost 0.26%, with chipmakers taking heavy losses amid concerns that major AI hyperscalers may curb infrastructure spending.
Attention is shifting toward upcoming earnings from major Wall Street lenders. FXStreet noted that results from JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo are scheduled for later in the day.
On the macro and rates front, crude oil prices rose on renewed supply concerns and investors are watching inflation expectations. FXStreet added that the CME FedWatch Tool showed a 51.0% probability of a Fed rate hike in September, up from 23.0% earlier, ahead of the US June CPI release and Fed Chair Kevin Warsh's congressional testimony.
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