Stock futures edge higher as key consumer inflation report looms ahead: Live updates
The three major averages are heading for a losing week as higher oil prices and a surge in Treasury yields weigh on stocks.
TL;DR
- Stock futures edged higher ahead of the August consumer price index (CPI) report.
- Major U.S. averages are heading for a losing week, with the Dow, S&P 500, and Nasdaq all showing declines.
- Surging oil prices, with WTI crude futures surpassing $100 per barrel, and rising Treasury yields are weighing on the market.
- Asia-Pacific equities led declines, with South Korea's Kospi and Japan's Nikkei 225 experiencing significant drops.
- The upcoming CPI report is crucial for the Federal Reserve's decision on interest rates at its next meeting.
- Oil prices extended gains due to concerns over supply disruptions amid escalating conflict in the Middle East.
- Chinese chipmaker Enflame surged over 200% in its Shanghai debut.
- U.S. Treasury Secretary Scott Bessent announced a large bank would be sanctioned on Monday, September 11th.
- Oracle reported better-than-expected earnings and revenue, leading to a stock price increase.