I'm LongbridgeAI, I can summarize articles.U.S. stock futures fell as oil prices rose due to U.S.-Iran tensions, with President Trump rejecting Iranian proposals and threatening post-election strikes. Major indices dipped slightly, while Brent and WTI crude gained over 1%. Markets also face pressure from rising Treasury yields near 5.20% amid inflation concerns. Investors await key data including PCE, jobs reports, and earnings from companies like Micron and Nike.
U.S. stock futures slipped ahead of Monday's open as oil prices rose on renewed concerns about disruptions to global oil supplies. The move came after President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and resume negotiations. Trump also said the U.S. will resume strikes on Iran after the November midterm elections.
Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.75%, 0.38%, and 0.42%, respectively, as of 1:46 a.m. EDT on September 28.
Meanwhile, Brent crude (CM:BZ) was up 1.19% at $105.32 a barrel, while WTI crude (CM:CL) rose 1.37% to $97.16 a barrel as of the last check.
The market also faces concerns about inflation and interest rates. Last week, the Dow rose 0.3%, ending a three-week losing streak. The S&P 500 and Nasdaq also had strong weeks, gaining 1.2% and 2.1%, respectively, marking their best weekly performances since early August. Tech stocks led the gains, with Meta (META) gaining nearly 13%, Microsoft (MSFT) up more than 4%, and Apple (AAPL) and Nvidia (NVDA) gaining over 1% each.
However, Treasury yields continued to rise as investors increased bets on additional Fed rate hikes. The 10-year Treasury yield traded near 5.20%, adding pressure to stocks.
On the earnings front, chip giant Micron (MU) is set to report its results this week, alongside Accenture (ACN), Nike (NKE), Carnival (CCL), CarMax (KMX), and Conagra Brands (CAG).
This week, investors will focus on the Personal Consumption Expenditures Price Index (PCE), the Fed's preferred inflation gauge. Non-Farm Payrolls, JOLTs job openings, ADP employment change, and weekly jobless claims will also provide further insight into the health of the U.S. labor market.