Stock Index Futures Mixed as Oil Prices Rise and Inflation Data Looms
On Tuesday morning, stock index futures showed mixed performance ahead of Wall Street's open following an extended weekend. Rising oil prices due to Middle East tensions kept investors cautious, with Brent crude trading above $98 a barrel and WTI nearing $94. Attacks on Saudi energy facilities by Iran-backed Houthi militants contributed to the upward pressure on oil markets. Meanwhile, AI optimism boosted chip and infrastructure stocks in pre-market trading, pushing Nasdaq 100 futures into positive territory. Market participants are closely watching for key U.S. inflation data due later this week as well as Oracle's earnings report. The previous Friday saw major equity indices end mostly lower after a stronger-than-expected jobs report raised expectations of an imminent Fed rate hike. The Labor Department reported 162,000 nonfarm payrolls added in August—far above forecasts—and the unemployment rate remained steady at 4.1%. Traders now see a 60.6% probability that the Federal Reserve will raise interest rates by 25 basis points during its upcoming FOMC meeting.
Tickers: $ORCL
Topics: AI stocks bond yields inflation data oil prices stock index futures