U.S Stock Futures, Treasurys Weaken as Brent Nears $100
By Joe Stonor
U.S. stock futures slipped and Treasurys weakened in early European trade, as higher oil prices dragged sentiment before investors return from the Labor Day weekend.
The yen neared its strongest level against the dollar of 2026, extending a recent surge spurred by higher Bank of Japan rate expectations and a softer dollar. The Japanese currency hit a fresh six-month high against the greenback in Asian trade Tuesday, surpassing levels seen following coordinated U.S.-Japan market intervention in July.
U.S. markets wobbled, with stock futures largely falling while Treasurys slipped. Futures for the Dow Jones Industrial Average fell 455 points or 0.9%, while S&P 500 futures edged 0.4% lower. Nasdaq futures fell 0.25%.
Yields on 10-year Treasurys moved 2 basis points higher to 4.809%, while 30-year yields rose by 2.5 basis points to 5.272%.
Brent crude futures traded above $99 a barrel, rising 2.1%, while WTI futures rose 3.2% to $94.42 following reports of attacks on Saudi Aramco infrastructure. Meanwhile crude demand from China is rebounding, according to a Bloomberg report.
"Markets are increasingly pricing a prolonged Mideast conflict," analysts at Goldman Sachs said.
In metals markets, copper extended recent gains to trade at a fresh record in London, as fears over potential U.S. tariffs and supply concerns combined to push three-month futures to $14,598.50 a metric ton.
Asian and European stock markets were subdued. South Korea's Kospi gave up 0.6% and Japan's Nikkei Stock Average declined 1.7%, while the Europe-wide Stoxx 600 slid 0.55%.
The dollar fell to a two-week low against a basket of global currencies. Bitcoin fell 1.2% to $78,298, while gold futures fell 1% to $4,433.70 a troy ounce.
Investors await U.S. inflation data Friday which will set the stage for next week's Federal Reserve meeting. For the day ahead, Canadian counter-tariffs on U.S. imports are set to take effect.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
September 08, 2026 04:40 ET (08:40 GMT)
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