Wall St Futures Slip as Rising Oil, Treasury Yields Compound AI Anxiety
Brent crude topped $108 a barrel and the 10-year Treasury yield hit 5.0286%, pressuring tech shares ahead of a widely expected Fed rate hike.
- On Tuesday, stock index futures slipped as higher crude oil prices, elevated Treasury yields, and an uncertain outlook for AI demand kept investors at bay.
- The Labor Department reported last week that consumer prices accelerated, while the benchmark Treasury yield climbed to 5.0286%, its highest level since 2007.
- Several tech stocks sank premarket, with Alphabet and Microsoft down more than 1% each, while Crypto stocks fell after a nearly 3% slide in bitcoin.
- Traders are pricing in a 92% chance of a Federal Reserve rate hike on Wednesday, as Anthony Saglimbene, chief market strategist at Ameriprise Financial, said, "Energy is doing most of the damage on the inflationary front at present."
- Nancy Tengler, CEO of Laffer Tengler Investments, believes the current weakness is temporary, stating, "The AI genie is not going to be put back in the bottle.
16 Articles
16 Articles
Wall St futures slip as rising oil, Treasury yields compound AI anxiety
By Jayasree Prabhu Sept 15 (Reuters) - U.S. stock index futures slipped on Tuesday as higher crude oil prices, elevated Treasury yields and an uncertain outlook for AI demand kept investors at bay. Several tech stocks sank premarket, with Alphabet and ...
The three major U.S. indices in New York opened lower on the 14th (local time), as investors watched concerns over slowing the pace of artificial intelligence (AI) development and rising oil prices. As of 11:10 PM KST, the Standard & Poor's (S&P) 500 index was trading at 7,619.99, down 35.08 points (0.47%) from the previous close. The Dow Jones fell 83.95 points (0.16%)
(Seoul = Yonhap News) Reporter Yoon Jung-won of Yonhap Infomax = The three major stock indices of the New York stock market opened lower due to anxiety surrounding artificial intelligence (AI) and the impact of rising oil prices.
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