US stocks-S&P, Nasdaq futures slip as markets await Iran sanctions, Nvidia results
SPY•Warsh speech and rate expectations in focus
At 05:30 a.m. ET, Dow E-minis YMcv1 were down 12 points, or 0.02%, S&P 500 E-minis EScv1 were down 12.75 points, or 0.17%, and Nasdaq 100 E-minis NQcv1 were down 176.5 points, or 0.60%.
Meanwhile, Warsh's speech at the Fed's annual Jackson Hole symposium in Wyoming will be closely watched this week for hints on how the central bank plans to navigate monetary policy amid rising oil prices and bond yields.
"We no longer know who will ultimately control the long end of the U.S. yield curve: the Treasury, the Fed, or the bond market itself... In the wake of last week's reaction to Treasury's announcement, the market still has the last word," said Ozkardeskaya.
"Jackson Hole gathering will bring some clarity on how the Fed will fit into this."
Money market participants are fully pricing in one 25-basis-point interest rate hike by the end of 2026, according to LSEG data. A benign inflation report earlier this month, however, significantly reduced chances of an immediate rate hike.
