US Stocks-Wall Street futures fall as oil, Treasury yields rise on Iran tensions
SPY•Futures slip as oil and yields rise
Wall Street futures slipped on Wednesday, as bond yields and oil prices marched higher following U.S.-Iran clashes in the Middle East, offering little incentive to buy equities during what has typically been a weak month for returns.
The latest strikes have pushed geopolitical tensions front and center, ending the uneasy calm of the past few weeks and reviving inflation concerns.
"If hostilities are going to increase, they are likely to increase within the next couple of weeks. The Iranians have their maximum leverage now before the midterm elections," said Ryan Isherwood, founder and CEO of Significance Capital.
Any flare-up could complicate the interest-rate outlook further. Over the past week, traders have sharply increased bets on a September rate hike after Federal Reserve Chair Kevin Warsh said taming price pressures is the central bank's chief focus.
