Oil Jump Pressures U.S. Stocks Ahead of Inflation Data
TL;DR Summary
Stock futures were near flat after the prior session’s losses as oil jumped on reports of renewed attacks on U.S. ships; the Dow fell 1.2% while the S&P 500 and Nasdaq slid about 0.6% and 0.3%. Brent crude topped $99 and WTI traded above $94 after hours, lifting the 10-year yield above 4.8% on inflation fears. With no major data due Wednesday, traders will focus on inflation readings later this week to gauge the Fed’s policy path.
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