Dow futures hold near 54,150 while S&P 500 and Nasdaq 100 edge higher amid geopolitical tensions and weaker labor data.
US stock futures showed mixed movement early Monday, with Dow Jones futures steady at 54,150, S&P 500 futures up 0.16% near 7,790, and Nasdaq 100 futures gaining 0.39% around 29,950. Rising crude prices and geopolitical risks in the Middle East weighed on sentiment as traders assessed fading prospects for a Fed rate cut.
Weaker-than-expected US jobs data added to the cautious tone. July Nonfarm Payrolls fell by 23,000, while June’s figures were revised sharply lower to 20,000 from 57,000. The CME FedWatch Tool now shows a 44% chance of a 25-basis-point hike in September, down from 67% a week earlier.
Geopolitical tensions remained elevated as US-Iran negotiations over reopening the Strait of Hormuz showed limited progress. Tehran indicated talks with Oman were nearing a deal but warned reopening would not be immediate.