Global Markets:
● Asian Stock Markets : Nikkei up 0.04%, Shanghai Composite up 0.24% Hang Seng down 0.15% ASX down 0.19%
● Commodities : Gold at $4,416.11 (-0.53%) Silver at $66.808 (-0.29%), Brent Oil at 99.34 (1.45%), WTI Oil at 94.22 (1.27%)
● Rates : US 10-year yield at 4.801, UK 10-year yield at 5.1778, Germany 10-year yield at 3.3562
News & Data:
● (JPY) M2 Money Stock y/y 2.0% to 2.2% expected
Markets Update:
U.S. stock futures were little changed Tuesday evening after Wall Street ended lower, as rising oil prices continued to weigh on investor sentiment.
Dow Jones Industrial Average futures slipped 21 points, while S&P 500 and Nasdaq 100 futures remained close to unchanged levels.
Asian markets were mixed. Japan’s Nikkei 225 fell 0.23%, while the Topix declined 0.35%. South Korea’s Kospi advanced 0.36% and the Kosdaq gained 0.47%. Australia’s S&P/ASX 200 was marginally higher.
Oil prices climbed sharply after reports that Iran had launched a second, previously undisclosed round of attacks targeting U.S. Navy ships. Brent crude briefly moved above $99 a barrel, while West Texas Intermediate crude rose above $94 in extended trading.
The increase in oil prices added pressure to U.S. stocks during Tuesday’s session, the first trading day following the Labor Day holiday. The Dow dropped 1.2%, recording its weakest performance in nearly three weeks. The S&P 500 fell 0.6%, while the Nasdaq Composite declined 0.3%.
Meanwhile, the 10-year U.S. Treasury yield briefly rose above 4.8%, increasing concerns that higher energy prices could fuel inflation and influence Federal Reserve policy.
With few earnings and economic releases scheduled for Wednesday, investors are likely to focus on upcoming inflation data later this week for clues about the Fed’s next interest-rate decision.
Upcoming Events:
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