S&P 500, Nasdaq eye tepid open as Middle East tensions weigh

The S&P 500 and the Nasdaq 100 indexes looked set for a subdued open on Thursday following mixed corporate earnings as investors remained focused on Middle East tensions.

The muted moves, at the start of a historically weak month for market returns, could deepen the gloom following the latest military exchanges between the U.S. and Iran.

Investors hungry for positive catalysts are now eyeing Friday's jobs data, but some have cautioned against placing too much emphasis on the report as Federal Reserve Chair Kevin Warsh has indicated that controlling inflation remains his top priority.

Odds of a rate hike have seen a sharp increase over the past week, with traders pricing in a 62% chance of a hike in September, according to the CME FedWatch tool.