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US stock futures hold steady as US-Iran standoff deepens
Oil prices climbed on the Strait of Hormuz outlook, while markets weighed bets shifting toward a September Fed rate hike ahead of Wednesday’s CPI.
US stock index futures were roughly flat in premarket trading after Monday’s session ended lower, as the US-Iran standoff hardened and doubts grew about progress toward a deal to reopen the Strait of Hormuz, Yahoo Finance reported.
Geopolitical pressure also reflected increasing demands around war compensation, with President Trump rejecting Iran’s reparations demand and saying negotiations would wait on building economic pressure. Iran’s foreign minister, Abbas Araghchi, said there was no possibility of restarting negotiations until the US compensates Iran for violations of the June memorandum of understanding, contributing to firmer oil prices.
The energy move helped frame the week’s rate outlook, with expectations after a softer-than-expected jobs report shifting toward a Federal Reserve rate hike in September. Cleveland Fed president Beth Hammack said in an interview with Yahoo Finance that it may take more than one rate hike to rein in inflation.
Attention also turned to corporate catalysts, including fundraising efforts by Intel and Nvidia that renewed scrutiny of the capital-intensive AI build-out. After the bell, investors were set to watch earnings from CoreWeave and Super Micro Computer for signals on the AI hardware business.