Oil crosses $100 as U.S. stocks slip at the open

U.S. stocks opened lower as oil surged to $100 a barrel, fueling inflation concerns and bets on a September Fed rate hike (about a 60% chance for 25 bps). The Dow, S&P 500 and Nasdaq fell in early trading as Brent topped $100 and WTI hovered near $95. Chewy posted in-line results, Apple kicked off its annual iPhone event, and traders watched U.S.–Canada tariffs and Middle East tensions weigh on energy prices.