U.S. stock futures edged lower ahead of Tuesday’s trading session after Wall Street started the week on a weak note. Rising Middle East tensions pushed oil prices higher and reignited inflation concerns, while the U.S.-Iran ceasefire expired on Monday. President Donald Trump also said he was in no rush to reach a new agreement.
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Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.11%, 0.54%, and 0.13%, respectively, at 5:46 a.m. EDT on August 18.
Oil prices rose on Tuesday as hopes for a quick U.S.-Iran deal faded. Iran said it would take a more offensive stance, while the U.S. ruled out extending the ceasefire, raising concerns about energy supplies. At the time of writing, Brent crude (CM:BZ) traded around $91.64 a barrel, while WTI crude (CM:CL) was near $84.93 a barrel.
During Monday’s regular trading session, major indices fell as uncertainty over the U.S.-Iran conflict weighed on sentiment. The Dow and S&P 500 each fell 0.5%, while the Nasdaq declined 0.32%.
The benchmark U.S. 10-year Treasury yield traded near 4.73% as of the last check. Additionally, the spot gold price in U.S. dollars traded around $4,390.14 per ounce on Tuesday.
Investors are now watching Tuesday’s economic calendar, which includes July import and export prices, industrial production, and housing starts data.
On the earnings front, Home Depot (HD), Baidu (BIDU), Klarna (KLAR), and Toll Brothers (TOLL) are scheduled to report results today.
European markets traded lower amid rising uncertainty over a U.S.-Iran peace deal.
Asia-Pacific Markets Close Mixed
Asia-Pacific markets ended mixed as U.S.-Iran tensions revived inflation worries.
Hong Kong’s Hang Seng Index rose 0.07%. In China, the Shanghai Composite gained 0.19%, while the Shenzhen Component was down 0.44%. In Japan, the Nikkei plunged 2.54% and the Topix fell 1.05%.