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September 9, 2026 - 12:33
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(Bloomberg) — US stock futures fell and Treasuries slipped in a market where inflation risks are the primary focus, with Brent crude topping $100 a barrel.S&P 500 contracts slipped 0.2%. Nasdaq 100 futures were down 0.4% after erasing early gains, echoing a rally in Asian technology shares that lost momentum as the session progressed. In Europe, sectors sensitive to the economy dragged the Stoxx 600 down 1.2%.Oil prices extended gains for a fourth day. In the latest escalation in the Middle East, US forces destroyed five Iranian tankers carrying crude in response to two attempts to hit a US Navy warship with ballistic missiles. Tehran responded by firing missiles at Jordan and warning ships in the Persian Gulf.Ten-year Treasury yields advanced two basis points to 4.81%, hovering near a 2023 high. Traders are waiting for the Treasury Department to announce the size of Thursday’s buyback operation for outstanding 10-year and 20-year bonds, part of Treasury Secretary Scott Bessent’s efforts to restrain US yields.“Oil prices at $100 per barrel put inflation pressures back into the spotlight,” said Joachim Klement at Panmure Liberum. “In this environment and in the absence of forward guidance by the Fed, the ECB’s decision and Christine Lagarde’s comments on Thursday will gain weight. We expect stock markets to adopt a wait-and-see position today.”The cross-asset response to Brent reaching a threshold last crossed in July comes as traders await the latest US inflation print on Friday. The data is widely seen as decisive in tipping the scales for or against a US interest-rate hike next week, with money markets pricing around a 60% chance of a move.Worries over persistent price pressures, heavy government borrowing and a wave of corporate issuance have pushed global yields to multi-year highs in recent weeks. The US Treasury will offer $39 billion in 10-year notes Wednesday after selling $58 billion of three-year debt on Tuesday at the highest yield for an auction of that tenor since 2024.“The risks to equity markets continue to pile up as the discount rate which they face gets higher and higher and higher,” said Ashley Lester, chief research officer at MSCI. “The question is to what extent can continued AI earnings growth continue to push equity markets onward.”A four-day rally in semiconductor stocks is set to end, with an exchange-traded fund tracking major chipmakers sliding more than 1% in US premarket trading. Apple Inc. was little changed ahead of the unveiling of the foldable iPhone.In currency markets, the yen strengthened for a third day after Bessent challenged traders to test his resolve to boost Japan’s currency. The yen advanced 0.3% to 153.52 per dollar, while Bloomberg’s gauge of the greenback was little changed.Corporate News:Uber Technologies Inc. is looking to raise around €4 billion ($4.7 billion) from its debut five-part euro bond, the latest move by an American company to diversify its funding in Europe. Amazon.com Inc. kicked off the sale of its debut sterling bonds, with a four-part deal expected to be delivered later on Wednesday. Alphabet Inc.’s Google is planning its biggest investment in Europe, an artificial intelligence infrastructure build out worth at least €13 billion ($15.1 billion) in Finland. Inditex SA sales continued to grow at a strong clip at the start of the third quarter, signaling that the Zara owner is reeling in shoppers. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 1.3% as of 11:28 a.m. London time S&P 500 futures fell 0.3% Nasdaq 100 futures fell 0.4% Futures on the Dow Jones Industrial Average fell 0.4% The MSCI Asia Pacific Index rose 0.2% The MSCI Emerging Markets Index rose 0.2% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1627 The Japanese yen rose 0.3% to 153.54 per dollar The offshore yuan was little changed at 6.7060 per dollar The British pound was little changed at $1.3536 CryptocurrenciesBitcoin rose 0.8% to $79,088.98 Ether rose 0.4% to $2,491.82 BondsThe yield on 10-year Treasuries advanced two basis points to 4.81% Germany’s 10-year yield advanced four basis points to 3.40% Britain’s 10-year yield advanced three basis points to 5.21% CommoditiesBrent crude rose 2.9% to $100.76 a barrel Spot gold rose 0.9% to $4,394.17 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
