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Oil-supply fears and Fed hike bets weigh on US stock futures
CME FedWatch shows September rate-hike odds near 52%, up from 44.4% a day earlier, as investors look to this week’s inflation data.
US stock futures were mixed in early European trading on Tuesday, with Dow Jones futures down 0.1% to around 54,000, S&P 500 futures holding near 7,770, and Nasdaq 100 futures up 0.1% to about 29,770, FXStreet reported.
Cautious positioning reflected rising geopolitical tensions tied to Iran, as investors priced in potential oil-supply disruptions that can stoke inflation and lead the Federal Reserve to raise rates sooner. According to the CME FedWatch Tool, the probability of a 25 basis point hike in September climbed to nearly 52% from 44.4% the previous day.
FXStreet also cited Iran’s rejection of any future negotiations with US President Donald Trump, with reporting that Tehran intends to wait until the end of the current US presidential term on January 20, 2029 before returning to talks.
Deutsche Bank’s Jim Reid team highlighted that the broader US equity complex softened, with NASDAQ and the Russell 2000 down, while energy and health care helped limit the S&P 500’s decline. Investors are also watching inflation data scheduled for later this week, as well as earnings due that day from Cardinal Health, CoreWeave, and Super Micro Computer, FXStreet added.
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