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Middle East tensions lift oil and steady US stock futures
S&P 500 and Nasdaq 100 futures moved higher while markets priced in about a 67% chance the Fed will hold rates in September.
US stock futures were mixed as escalation in the Middle East kept crude oil prices supported, with investors also recalibrating expectations for the Federal Reserve, LiveMint Markets reported. Futures tied to the S&P 500 rose 0.1% and Nasdaq 100 futures gained 0.5%, while Dow Jones Industrial Average futures fell 88 points, or 0.2%.
The market read-through came as fighting in Lebanon and attacks on vessels in the Strait of Hormuz muddied prospects for a US and Iran end to the war, LiveMint Markets reported. It added that oil held firmer levels amid uncertainty over whether negotiations can move forward as tensions persist.
LiveMint Markets also said the major US indices had closed higher for the prior three weeks, with the S&P 500 reaching a fresh all-time high, supported by strong megacap earnings and easing valuation concerns tied to AI. Meanwhile, benign inflation and weaker-than-expected retail sales reduced expectations of a Fed rate hike.
Investors were watching upcoming Federal Open Market Committee updates and Federal Reserve guidance, LiveMint Markets reported, noting markets now see roughly a 67% probability the Fed will hold rates in September. The focus is also shifting to West Asia as talks remain stalled, with reports citing US President Donald Trump and Iran discussions involving Oman around managing ship transit through the Strait of Hormuz.
Latest closeWTI crude $82.40 ▲1.4%|S&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%