US stock futures stabilized on Wednesday after the Dow, S&P 500 and Nasdaq Composite fell in the previous session as rising oil prices intensified concerns about inflation and higher interest rates. The market moves followed the US strike on five Iranian tankers near Kharg Island, described as retaliation for attempted missile attacks on a US warship. Investors are awaiting key US inflation data this week for clues about the Federal Reserve’s rate path before its meeting next week. Markets are pricing in about a 60% probability of a 25-basis-point rate hike, with a basis point equal to one-hundredth of a percentage point. On Tuesday, the Dow fell 1.18%, while the S&P 500 declined 0.58% and the Nasdaq Composite dropped 0.32%. Credit-sensitive software stocks also weakened: Microsoft fell 1.1%, Palantir dropped 2.3% and Amazon slipped 0.6% ahead of its sterling bond offering.