U.S. Stock Futures Hold Mixed as Oil Jumps 2% Before Fed Minutes
Updated
Updated · CNBC · Jul 7
U.S. Stock Futures Hold Mixed as Oil Jumps 2% Before Fed Minutes
3 articles · Updated · CNBC · Jul 7
Summary
Dow futures fell 53 points early Wednesday, S&P 500 futures were flat and Nasdaq 100 futures rose 0.3% as traders balanced geopolitical risk against the coming Fed minutes.
WTI crude climbed 2.1% to $71.87 and Brent rose 1.9% to $75.53 after the U.S. launched strikes on Iran and revoked a license that had allowed Iranian oil sales following attacks in the Strait of Hormuz.
Asian markets mostly fell on the oil shock, with Japan's Nikkei down 2.11% and South Korea's Kospi tumbling 5.35% into a bear market, though Hong Kong's Hang Seng gained 3.18%.
At 2 p.m. ET, minutes from the Fed's June meeting are due to shed light on Chair Kevin Warsh's first meeting after officials held rates steady but signaled more hikes remain possible if inflation stays hot.