U.S. stock futures fall as Brent crude rises above $99 a barrel

  • U.S. stock futures declined Tuesday after major indexes closed lower Friday.
  • Brent crude futures climbed above $99 a barrel as U.S. markets reopened.
  • Investors are awaiting August CPI data Friday and Apple’s product event Wednesday.

U.S. stock futures declined Tuesday after the Dow Jones, S&P 500 and Nasdaq 100 ended lower Friday, while Brent crude futures rose above $99 a barrel as markets reopened after the Labor Day holiday. Gasoline prices reached a record holiday high of $4.15 a gallon Monday. President Donald Trump said on Truth Social that oil prices "will drop precipitously" after the conflict with Iran ends, forecasting prices of "Three Dollars a gallon, but ultimately, below Two Dollars a gallon." Investors are focused on Friday’s August Consumer Price Index (CPI), a measure of consumer inflation, and Apple’s Wednesday product launch, expected to feature new iPhone 18 models. The 10-year Treasury yield was 4.81%, the two-year yield was 4.38%, and CME Group’s FedWatch tool put the probability of a Federal Reserve rate hike at its September meeting at 60.4%. Co-Diagnostics, Novartis, ASML Holding, iSpecimen and Casey’s General Stores were among the stocks in focus. Carson Group Chief Market Strategist Ryan Detrick remained bullish, citing market momentum, breadth and historical performance after a positive August. U.S. and European markets were lower, while Asian markets also declined. Bitcoin fell 1.30% to $78,400.28 over 24 hours.

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