Dow Jones Industrial Average futures fell 308 points, or 0.6%, as investors monitored the Middle East war and renewed trade tensions between the United States and Canada. S&P 500 futures slipped 0.2%, while Nasdaq-100 futures rose 0.1%; U.S. markets were closed Monday for the Labor Day holiday. Oil prices reached six-week highs after Iran and the U.S. exchanged strikes over the weekend, with Brent up 1.1% at $97.31 a barrel and West Texas Intermediate futures 1.3% higher at $92.66. Rising crude prices have lifted concerns that inflation will increase, contributing to higher Treasury yields. The 10-year yield reached its highest level since November 2023 last week, while the two-year yield hit a January 2025 high. The Federal Reserve is scheduled to meet next week, and traders are pricing a 60% chance of a quarter-percentage-point rate hike, according to CME Group's FedWatch tool. Wholesale and consumer inflation data due Thursday and Friday could alter those expectations. Canada is also set to impose retaliatory tariffs on about $20 billion of U.S. goods on Tuesday. President Donald Trump said Canadian aircraft manufacturer Bombardier would not be able to sell in the U.S. unless Canada starts making its products there.