4 hrs ago
US Futures Muted as Oil Swings and Mortgage Rates Rise
US stock futures were mostly steady on Wednesday morning.
Investors were watching oil prices because the US and Iran may be involved in talks about their conflict.
Brent oil became more expensive, but WTI oil became cheaper.
Higher oil prices can make everyday goods more expensive and affect interest rates.
Mortgage rates in the US rose above 7%, making home borrowing more expensive.
The dollar strengthened, and the 10-year Treasury yield stayed near 4.96%.
Investors were waiting to hear from Federal Reserve officials about future interest-rate decisions.
They were also waiting for economic reports about US factories and services.
US stock futures were little changed as investors assessed uncertainty surrounding the US-Iran war.
Brent crude rose about 0.4% to $99.60 a barrel, while WTI crude fell 0.6% to $89.97.
US mortgage rates climbed above 7%, reaching their highest level since May 2024.
The 10-year Treasury yield held near 4.96%, while the dollar rose for a fourth straight session.
Investors awaited Federal Reserve officials' remarks and preliminary September US manufacturing and services PMI data.
- Who
- US investors, Federal Reserve officials, President Donald Trump, and US and Iranian officials.
- What
- US stock futures were mostly unchanged as oil prices fluctuated, mortgage rates rose above 7%, and markets assessed interest-rate risks.
- Where
- US financial markets, with reported US-Iran discussions taking place on the sidelines of the United Nations General Assembly in New York.
- When
- Early Wednesday, September 23; additional economic and Federal Reserve updates were expected later that day.
- Why
- Investors were assessing uncertainty over the US-Iran war, possible effects on energy prices, and the outlook for inflation and interest rates.
Potential Market Relief
Continued Market Pressure
Oil-price outlook
Potential Market Relief
Progress in US-Iran talks could reduce pressure on energy prices and ease concerns about inflation.
Continued Market Pressure
A prolonged or uncertain conflict could keep Brent crude near $100 a barrel and maintain energy-price pressure.
Interest-rate outlook
Potential Market Relief
Easing energy prices could reduce inflation concerns and eventually support a less restrictive policy outlook.
Continued Market Pressure
Elevated oil prices, Treasury yields, and mortgage rates could reinforce the Federal Reserve's cautious stance.
Key facts
- Brent crude
- November futures were about 0.4% higher at $99.60 a barrel.
- WTI crude
- Futures fell 0.6% to $89.97 a barrel.
- Mortgage rates
- US mortgage rates rose above 7%, their highest level since May 2024.
- 10-year Treasury yield
- The yield was around 4.96% in early trading.
- US dollar
- The dollar rose for a fourth consecutive session and reached its highest level since July.
- Previous session
- The Dow fell 0.4%, the Nasdaq Composite gained 0.5%, and the S&P 500 ended marginally lower.
- Upcoming data
- Investors were due to receive preliminary September manufacturing and services PMI readings from S&P Global.
Sources
Related news
US Stock Futures Rise as Oil Retreats Before CPI Data
Middle East Tensions Push Oil Toward $100, Weighing US Stocks
Bessent Predicts $40 Oil After Iran Conflict, Bond Yields Fall
Gold Futures Fall Seventh Day Amid US-Iran Tensions
Oil Surges Above $90 as Hormuz Risks Intensify
Jimmy Fallon Mocks Trump’s UNGA Schedule in Comedy Rap
H1B Families Face High US Living Costs, Founder Says
Iran President Challenges Trump With Minab Photos at UNGA
Melania Trump Says She Gives Donald Trump Honest Advice
UN Successor Race Intensifies Amid Wars and Financial Crisis
