Business & Finance
US stock futures dip and oil prices rise following US-Iran military exchanges
Crude benchmarks climbed and equity futures fell as regional tensions grew after strikes in the Strait of Hormuz and Kuwait.
The short version
- U.S. stock index futures slipped while global crude prices rose Thursday amid continuing military clashes involving the U.S. and Iran.
- Brent crude increased to $97.33 per barrel and U.S. crude gained to $92.92 per barrel, extending an 11% surge on the week.
- Global bond yields and equity markets experienced fluctuations, while investors await the August U.S. employment report.
Key facts
- Brent crude climbed 1.8% to $97.33 per barrel and benchmark U.S. crude rose 2.1% to $92.92 per barrel.[ABC News]
- S&P 500 futures slipped 0.1%, Nasdaq futures fell 0.2%, and Dow Jones Industrial Average futures remained little changed.[ABC News]
- Iran targeted Kuwait on Thursday following U.S. bombardments earlier in the week, after U.S. forces struck Iranian rocket positions in the Strait of Hormuz on Sunday.[ABC News]
- The 10-year U.S. Treasury yield eased to roughly 4.77% early Thursday, while the 2-year yield fell to 4.36%.[ABC News]
- The Japanese yen strengthened against the U.S. dollar, moving from 158.71 yen late Wednesday to 156.07 yen on Thursday.[ABC News]