Dow, S&P 500, Nasdaq futures jump amid Iran war, inflation focus
US stock futures fluctuated on Wednesday as investors monitored developments in the Iran war and awaited a key inflation report that could shape expectations for the economy and Federal Reserve policy.
Futures linked to the S&P 500 and Nasdaq 100 each rose about 0.2% in premarket trading, while Dow Jones Industrial Average futures also gained roughly 0.2%, News.Az reports, citing foreign media.
The moves came after a volatile session on Tuesday that ended with stocks little changed.
Market sentiment has been dominated by concerns over the potential economic impact of the Iran conflict, which has triggered volatility in oil markets and influenced equity trading.
Crude prices climbed after reports that three vessels came under fire in the Strait of Hormuz on Wednesday morning. Futures for West Texas Intermediate and Brent crude rose, trading above $85 and $89 per barrel respectively.
At the same time, the International Energy Agency has proposed a record release of oil reserves to help ease supply pressures and curb a rally that briefly pushed crude prices toward $120 per barrel earlier this week.
Beyond geopolitical developments, Wall Street is preparing for two closely watched inflation reports. February’s Consumer Price Index is due at 8:30 a.m. ET on Wednesday, followed by January’s Personal Consumption Expenditures index on Friday.
The data is expected to offer insight into inflation trends and the broader health of the US economy, particularly as recent indicators suggest the labor market may be showing signs of slowing. However, the reports are not expected to reflect the recent surge in oil prices.
In corporate news, shares of Oracle Corporation surged after the company reported stronger-than-expected earnings and provided an upbeat outlook.
News.Az
By Nijat Babayev
