Dow Jones futures decline 0.11% amid rising US-Iran tensions
Dow Jones futures have slipped 0.11% to trade around 54,000. This decline is attributed to escalating geopolitical tensions between the US and Iran, which have fueled inflation fears and speculation of a potential rate hike.
The S&P 500 futures are steady around 7,770, while Nasdaq 100 futures have gained 0.12%, trading near 29,770. The market-implied odds of a 25-basis-point rate hike in September have climbed to nearly 52%, up from 44.4% just a day prior.
Iran has ruled out future negotiations with the US until the current presidential term ends on January 20, 2029. This decision has led to a cautious stance among traders, with chipmakers retreating and energy and health care sectors cushioning the US equity pullback.