US futures fall and oil prices surge after US hits Iranian sites in the Strait of Hormuz

Live updates

1. 12d ago

   US stocks rise as Fed Governor signals rate stability amid Iran tensions

   Wall Street indices rose Thursday after Federal Reserve Governor Christopher Waller indicated he might support holding interest rates steady this month if inflation cools. This follows a period of market volatility triggered by US strikes on Iranian rocket launchers in the Strait of Hormuz. While the military action pushed Brent crude above $92 a barrel and initially drove down stock futures, investor sentiment shifted toward the Fed's potential policy stance. Indian markets previously saw losses in banking and auto sectors due to the rising cost of crude.

   Why it matters

   The conflict in the Strait of Hormuz represents the first direct military exchange between Washington and Tehran in over a month. These tensions threaten global energy supplies and exacerbate inflation fears. Markets are currently balancing geopolitical risk against the Federal Reserve's upcoming decision on interest rates.

   What is confirmed

   • Brent crude prices exceeded $92 a barrel.
   • The Dow, S&P 500 and Nasdaq rose on Thursday.
   • The Sensex ended 12 points down on September 1.
   • Nifty closed at 24,055.

   Still unconfirmed

   • The Federal Reserve will raise interest rates this month to combat persistent inflation.
   • Fed Governor Christopher Waller could support holding interest rates steady if inflation continues to cool.

   What to watch next

   • The Federal Reserve's official interest rate decision later this month
   • Further military escalation or de-escalation in the Strait of Hormuz
   • Friday's market reaction to economic data
   Sources used for this update (4)

   1. www.aljazeera.com — Oil prices climb as US, Iranian attacks stoke fears of escalation
   2. www.thehindubusinessline.com — Sensex today | Stock Market Highlights: Sensex ends 12 pts down, Nifty closes at 24,055 on higher crude prices; banks, autos lead losses
   3. www.nbcnews.com — Bond yields surge and stocks tumble as inflation fears raise the odds of an interest rate hike
   4. economictimes.indiatimes.com — Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: US stocks rise as Waller signals openness to holding rates steady
   confidence 90%
2. 15d ago

   US futures fall, oil prices surge after US strikes Iranian sites

   US stock futures, including Dow, S&P 500, and Nasdaq, are falling while oil prices are surging after the US struck Iranian rocket launchers in the Strait of Hormuz. This development has led to increased rate-hike bets and heightened tensions between the US and Iran. The situation is affecting global markets, with Asian shares being mixed.

   Why it matters

   The conflict between the US and Iran has been escalating, with both countries trading attacks. The Strait of Hormuz is a critical waterway for global oil shipments, and any disruption to it can significantly impact oil prices and global economic stability. The US strikes on Iranian sites have contributed to the current market volatility.

   What is confirmed

   • Asian shares are mixed after the US strike on Iranian rocket launchers.
   • Oil prices have surged following the US strike on Iranian sites.
   • US stock futures, including Dow, S&P 500, and Nasdaq, are falling.

   What to watch next

   • Further US and Iranian actions in the Strait of Hormuz
   • Global economic reactions to the increased tensions
   • Potential impact on oil prices and supply chains
   Sources used for this update (4)

   1. AP News — Asian shares are mixed and oil prices surge after US strike on Iranian rocket launchers
   2. Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq futures fall as US strikes Iran, rate-hike bets jump
   3. The New York Times — Global Oil Prices Jump After U.S. and Iran Trade Attacks
   4. The Hill — Oil prices jump after renewed attacks between US, Iran
   confidence 85%