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U.S. stock futures rise modestly as CPI week and Iran demands weigh
Investors focused on Wednesday's U.S. Consumer Price Index, while Iran said Washington must end the war, remove a blockade, lift sanctions, and release frozen assets before the Strait of Hormuz can fully reopen.
U.S. stock futures traded mixed but leaned higher on Monday as investors balanced concerns about the Middle East against expectations for major U.S. inflation data later this week, according to Yahoo Finance. Traders also digested Berkshire Hathaway's latest results, which the outlet said marked new chief executive Greg Abel beginning to deploy more of the conglomerate's cash reserves into equities.
By 03:05 ET, Dow futures were down 25 points, or 0.1%, while S&P 500 futures were up 8 points, or 0.1%. Nasdaq 100 futures rose 86 points, or 0.3%, reflecting stronger performance in the technology-heavy index.
Market attention also turned to recent U.S. labor data. Yahoo Finance noted that employment figures showed the U.S. economy unexpectedly lost 23,000 jobs in July, with data for the prior two months revised lower, which investors viewed as reducing the odds of a Federal Reserve rate increase next month.
Geopolitical uncertainty remained a key driver after Iran outlined conditions it said must be met before the Strait of Hormuz can fully reopen. The outlet reported that Iran, via IRNA, tied progress to demands including a permanent end to the war, removal of a naval blockade, elimination of sanctions, release of frozen Iranian assets, and payment of war reparations, with the strait handling about one-fifth of global oil and liquefied natural gas supplies.
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