US Stock Futures Fall as Brent Crude Nears $100 and Fed Rate Hike Fears Return
TLDR
- US stock futures fell Tuesday with Dow futures down 0.8% and S&P 500 futures off 0.3%
- Brent crude climbed toward $100 per barrel for a third straight session
- Iran threatened a maritime exclusion zone across the Persian Gulf
- A strong August jobs report has revived fears of another Fed rate hike
- Investors are watching Friday’s CPI report and Oracle earnings later this week
US stock futures opened lower Tuesday as investors returned from the Labor Day holiday facing a wave of fresh concerns. Oil prices surged, Middle East tensions escalated, and inflation fears came back to the forefront.
Dow Jones futures fell 0.8% to 53,013 points. S&P 500 futures slipped 0.3% to 7,691. Nasdaq 100 futures were roughly flat at 29,593 points.
Oil Closes In on $100
Brent crude rose 1.4% to a six-week high, nearing $99 per barrel. US benchmark WTI crude approached $93. It was the third straight session of gains for oil.
The move higher came as Iran threatened to impose a maritime exclusion zone across the Persian Gulf. Iranian official Mohsen Rezaei said the warning came in response to what he called US “economic warfare.”
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