US stock futures edge lower as oil, tariffs and Fed hike risks weigh

  • US stock futures edged lower Tuesday as investors returned from a holiday-extended weekend.
  • 60% probability of a 25-basis-point Federal Reserve rate increase is priced for next week.
  • Canada imposed retaliatory tariffs on roughly $20 billion of US goods Tuesday.

US stock futures edged lower Tuesday as investors returned from a holiday-extended weekend amid higher oil prices, renewed US-Iran strikes and rising inflation concerns. Canada’s retaliatory tariffs on roughly $20 billion of US goods also took effect, adding to trade tensions. Markets are pricing in about a 60% probability that the Federal Reserve will raise interest rates by 25 basis points next week. In corporate news, Uber hired banks to meet investors ahead of a planned debut euro bond sale, while Novo Nordisk halted two more trials of an experimental heart disease drug, further weakening the treatment’s prospects.

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