Nasdaq 100 futures rise 0.56% as Hormuz reopening hopes and softer oil lift U.S. premarket
AI Market Summary
US equity index futures rose on optimism that the Strait of Hormuz could reopen in phases, pressuring crude off recent highs and easing near-term inflation fears. However, the macro backdrop remains restrictive: the US 10-year yield hit 5.225% (highest since 2007) and markets price a high probability of an October Fed hike. The cross-current of lower oil vs higher rates is likely to dominate risk pricing.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-1.46%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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U.S. stock index futures climbed premarket, with Nasdaq 100 futures up 0.56% and S&P 500 futures gaining 0.28%. Oil prices pulled back from recent highs after reports said the U.S. and Iran were exploring a phased reopening of the Strait of Hormuz, easing inflation concerns. Asian markets were mixed, with Japan’s Nikkei 225 up 1.3% while Australia’s S&P/ASX 200 fell 0.43% and Hong Kong’s Hang Seng slid 1.21% late in the session. The U.S. 10-year Treasury yield rose to 5.225%, its highest since 2007, and markets priced roughly a 68% chance of an October rate hike.
