Wall Street faces revived Fed-hike trade as oil nears $100

  • Federal Reserve rate-hike expectations revived after a stronger-than-expected US jobs report.
  • August employment increased by 162,000 positions, while unemployment remained at 4.1%.
  • Producer-price inflation arrives Thursday, followed by US CPI on Friday.

Wall Street returned from its long weekend under pressure from higher crude prices, elevated Treasury yields and renewed expectations for a Federal Reserve rate hike. S&P 500 futures slipped around 0.1% on Tuesday before the first cash-market session since Friday. The benchmark had previously fallen 0.4% to 7,718.41, while the Dow lost 0.5% and the Nasdaq declined 0.3%. The market weakness followed a stronger-than-expected US jobs report showing 162,000 positions added in August, nearly triple the 56,000 forecast, while unemployment remained at 4.1%. June and July payrolls were revised higher by a combined 55,000. Traders now price about a 60% probability of a quarter-point Federal Reserve rate increase next week, while the 10-year Treasury yield held near 4.79%. Brent crude rose for a third session to roughly $97.40 and WTI traded above $92 after Iran warned that Gulf energy infrastructure could be attacked following retaliatory strikes involving American and Iranian vessels. Goldman Sachs raised its year-end forecasts for both Brent and WTI by $5. Higher oil prices could support energy shares but also raise fuel and transportation costs, pressure corporate margins, weaken consumer spending and strengthen the case for tighter monetary policy. US producer-price inflation is due Thursday, followed by CPI on Friday. Hot readings would support the case for a September hike and could weigh on rate-sensitive sectors, while softer inflation could pull yields lower and revive the rally. Crude approaching $100 complicates efforts to declare victory over price pressures. Asian markets were mixed, with South Korea’s Kospi up about 1.2%, the broader Asia-Pacific index gaining 0.2% and Australia falling 0.6%. Japan’s Nikkei struggled as a stronger yen reduced the value of overseas earnings when exporters converted them back home. The US dollar index fell 0.4% to a two-week low near 98.80, helping gold rebound toward $4,430 while Bitcoin remained above $80,000. Apple’s product event on Wednesday offers another major corporate catalyst, with a first foldable iPhone potentially joining the new lineup. The ECB is then expected to raise rates Thursday.

当サイトの情報はAIを用いて生成されており、正確性を保証するものではありません。 参考情報としてご活用ください。
Wall Street faces revived Fed-hike trade as oil nears $100 - CoinPost Terminal