US Futures Slip as Gulf Shipping Risks Lift Oil
Dow, S&P 500 and Nasdaq-100 futures fell in premarket trading as rising oil prices revived inflation concerns ahead of earnings and jobless claims.
Key takeaways
- Dow futures fell 0.6%, while S&P 500 and Nasdaq-100 futures lost 0.3% and 0.4%.
- Oil prices rose amid concerns about supply and attacks on Gulf shipping.
US stock futures fell in premarket trading Thursday, with Dow futures down 0.6%, S&P 500 futures off 0.3% and Nasdaq-100 futures lower by 0.4%. Oil prices rose as concerns about supply and attacks on shipping in the Gulf and Strait of Hormuz persisted, reviving inflation worries.
Treasury yields remained near multidecade highs, with the 10-year yield at 5.28% and the 30-year at 5.66%. The article said the levels reflected tighter financial conditions.
Investors were also preparing for third-quarter earnings, starting with PepsiCo’s results. FactSet estimated S&P 500 earnings grew 29.5% in the quarter. The Labor Department was due to release initial jobless claims at 8:30 a.m. ET.
This article was produced with the help of AI technology. Source: Yahoo Finance
