On Sunday evening, S&P 500 futures increased by 0.4%, while Dow Jones Industrial Average futures rose by 85 points, or 0.2%, and Nasdaq-100 futures gained 0.4%. This uptick follows a tough week where the S&P 500 fell 0.5% and the Dow dropped over 650 points, primarily due to a sell-off across various sectors and escalating oil prices.
Brent crude oil prices surged more than 3% to $116.72 per barrel, driven by geopolitical tensions involving the U.S. and Israel potentially planning actions against Iran. Additionally, France's bond yields reached a 5% threshold for the first time since 2002, raising concerns about its fiscal stability, although Moody's maintained its credit rating for now.
Investors are closely monitoring the upcoming Federal Reserve meeting, with a 90% probability that interest rates will remain unchanged, although Bank of America anticipates a possible quarter-point increase. This decision is seen as critical for the Fed's credibility in managing inflation and could significantly influence market sentiment