Wall Street: Yields and oil prices are rising - and slowing down Wall Street
The speech by Fed Chairman Warsh is still having an impact, with the markets considering a rate hike to be ever more likely. The diplomatic initiative in the Iran conflict is stalling after the recent escalation.
The US stock market started the week with slight losses. The situation in Iran, rising oil prices, and the possibility of a Federal Reserve interest rate hike are key concerns. Oil prices rose over 3% after US attacks on Iranian missile sites near the Strait of Hormuz. Federal Reserve Chairman Kevin Warsh's recent comments have led the market to price in a 60% chance of a September interest rate hike.
This week, key economic data releases, including the ISM industrial and services indexes and the August jobs report, will be closely watched.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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