US stock futures steady after Wall Street falls on oil-driven inflation fears

  • US stock futures steadied after Monday’s major-average declines.
  • The Dow fell 0.7%, while the S&P 500 and Nasdaq Composite dropped 0.33% and 0.12%.
  • Investors will receive manufacturing, services and August employment data this week.

US stock futures steadied Tuesday after Monday losses as renewed Middle East conflict pushed oil prices higher. The resulting increase in energy costs intensified inflation concerns, lifted Treasury yields and strengthened expectations for a Federal Reserve interest-rate hike in September. The Dow fell 0.7% in regular trading, while the S&P 500 and Nasdaq Composite dropped 0.33% and 0.12%, respectively. Nine of 11 S&P sectors ended lower, led by communication services, utilities and industrials. Markets are entering a historically difficult month for stocks after modest August gains, with manufacturing and services data due Tuesday and the August jobs report scheduled for Friday.

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