U.S. stock futures were mixed on Friday, as the Dow Jones index advanced while the S&P 500 and Nasdaq 100 indices fell, following Thursday’s higher close.
U.S. Treasury Secretary Scott Bessent intensified his “economic D-Day” pressure campaign, accusing Iran’s “corrupt regime” of funding overseas terror while domestic economic conditions deteriorate. Driven by the expanding financial offensive, the Iranian rial collapsed to a record low of approximately 1.37 million per dollar as August oil loadings plummeted to 248,000 barrels daily.
Investors will keep an eye on Federal Reserve Chairman Kevin Warsh as he addresses an audience of international economists and central bankers at Jackson Hole. Global markets will closely monitor his remarks for further details regarding the economy, recent bond market volatility, and emerging risks to the U.S. and global outlooks.
Meanwhile, the 10-year Treasury bond yielded 4.67%, and the two-year bond was at 4.23%. The CME Group’s FedWatch tool projections show markets pricing a 33.7% likelihood of the Federal Reserve hiking the current interest rates during its September meeting.
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