Stock Futures Slip in Thin Trading as Oil Rises: Markets Wrap
(Bloomberg) — US stock futures slipped in thin trading and oil prices jumped on the back of renewed hostilities in the Middle East.
S&P 500 futures fell 0.3% and Europe’s Stoxx 600 was little changed. Brent crude traded near $91 a barrel after the US and Iran exchanged strikes for the first time in about a month. Treasuries and the dollar posted small moves. UK markets were closed for a holiday.
A renewed rise in oil would complicate the outlook for interest rates as investors consider whether or not a September rate hike is in the cards. But so far, equity investors have largely shrugged off worries about persistently high energy prices.
Elsewhere, Shein Global Holdings Ltd. priced its IPO in Hong Kong. The fast-fashion retailer raised $1.7 billion, giving it a market value of $26 billion that’s a far cry from the $100 billion it once commanded. The shares fell as much as 17% in gray market trading.
The yen slid below 160, a level that previously signaled that authorities may step in to support the currency.
In the wake of Federal Reserve Chair Kevin Warsh’s speech at Jackson Hole last week, traders have increased their bets on higher interest rates. Swaps now reflect about a 60% chance of a hike next month, from about 34% odds before Warsh spoke, according to swaps data compiled by Bloomberg.
Warsh said financial conditions aren’t currently restrictive and described rates as the Fed’s “predominant tool” for achieving its mandate, while stopping short of signaling support for a hike in September.
Even so, bond investors at ABN Amro Investment Solutions and Brandywine Global Investment Management are skeptical that higher rates will happen.
Some of the main moves in markets:
Stocks
S&P 500 futures fell 0.3% as of 7:53 a.m. New York time Nasdaq 100 futures fell 0.3% Futures on the Dow Jones Industrial Average fell 0.2% The Stoxx Europe 600 was little changed The MSCI World Index was little changed Currencies
The Bloomberg Dollar Spot Index fell 0.1% The euro rose 0.1% to $1.1599 The British pound was little changed at $1.3539 The Japanese yen rose 0.2% to 159.69 per dollar Cryptocurrencies
Bitcoin fell 0.4% to $78,300.92 Ether fell 1.9% to $2,444.32 Bonds
The yield on 10-year Treasuries was little changed at 4.72% Germany’s 10-year yield advanced two basis points to 3.30% Britain’s 10-year yield advanced three basis points to 5.06% Commodities
West Texas Intermediate crude rose 3.7% to $86.55 a barrel Spot gold was little changed This story was produced with the assistance of Bloomberg Automation.
–With assistance from Winnie Hsu.
©2026 Bloomberg L.P.
