U.S. stock futures opened mixed. Oil surged as tensions in the Middle East flared up again, with WTI topping $84. President Trump’s remarks that the U.S. is demanding compensation from Iran are drawing market attention.
U.S. stock futures opened mixed as rising geopolitical tensions in the Middle East pushed oil prices higher. Futures tracking the Dow and S&P 500 remained in negative territory, while Nasdaq 100 futures traded slightly higher.
In early trading, WTI crude futures rose 2.76% to around $84.40 a barrel. President Trump said the U.S. is demanding compensation from Iran, while Iran indicated that it would not accept the reopening of the Strait of Hormuz.
In the bond market, the 10-year yield rose to 4.73% and the 2-year yield to 4.03%. Markets are pricing in a Fed rate hike in September, although uncertainty remains over the outlook for economic indicators.
Earnings releases are expected to be the focus of the afternoon session, with moves in stocks including SMCI and CRWV likely to affect the broader market. Investors are watching upcoming cost-of-living-related indicators and developments in the energy market.