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The Federal Reserve hiked rates 25bp to 3.75%–4.00% in a unanimous vote — the first increase since 2023 — as Chair Warsh warned inflation is “too high” and refused forward guidance. Wall Street reversed sharply, oil pulled back on Saudi workaround cargoes via Oman, and the ASX faces a rates-heavy open with SPI futures down 0.75%.
Wall Street fell Monday as the heads of Anthropic, OpenAI and xAI called for slowing frontier AI development, hammering the PHLX chip index 5.9% and sending Nvidia down 3.4%. The US 10-year Treasury yield breached 5% for the first time since October 2023 with a Fed rate hike now priced at 92% for Wednesday. Brent crude spiked to $109.74 before settling at $105.68 as Saudi pipeline shutdowns and Hormuz shipping disruptions kept supply fears elevated.
Wall Street finished higher on Friday as falling crude prices offset hot CPI data that all but locked in a Fed rate hike this week — but weekend calls from AI leaders to slow development have Nasdaq futures trading sharply lower heading into Monday.
U.S. stocks extended their losing streak to a fourth straight session as a hotter-than-expected producer price report sent Treasury yields to multi-year highs and lifted the probability of a Fed rate hike next week above 70%. WTI crude topped $100 for the first time since May amid an escalation of U.S.–Iran strikes on shipping in the Strait of Hormuz. ASX 200 futures point to a sharp 79-point fall at the open.
Brent crude surged above $100 a barrel as U.S. strikes on five Iranian tankers triggered retaliatory attacks across the Persian Gulf, pushing the 10-year Treasury yield to 4.85%. The S&P 500 fell 0.5% while a disappointing $6 billion Treasury buyback deepened the bond sell-off. ASX 200 futures point to a 1% drop as markets await Thursday’s PPI and Friday’s CPI for Fed rate hike clarity.
Wall Street fell on Tuesday as surging oil prices near $100 a barrel, escalating U.S.-Iran hostilities and elevated Fed rate hike bets weighed on sentiment after the Labor Day weekend. The S&P 500 dropped 0.6% with software and health care stocks leading losses, while Brent crude hit a six-week high after Houthi strikes on Saudi energy facilities. ASX 200 futures point to a cautious 0.3% gain after yesterday’s 1% slump.
US equity futures slipped on Labor Day as fresh tanker attacks in the Strait of Hormuz pushed Brent crude toward $98 a barrel — its highest in seven weeks. Markets now price a near 60% chance the Fed hikes rates on September 16, with Friday’s CPI the decisive print. The yen surged to a seven-month high, copper hit a record, and ASX 200 futures point to a flat open.
US nonfarm payrolls blew past expectations at 162,000 — nearly three times consensus — sending Fed rate hike odds above 60% and dragging the S&P 500 lower. Over the weekend the US–Iran tanker war escalated dramatically in the Strait of Hormuz, with oil set for further gains. All eyes now turn to next Friday’s CPI report, the decisive number for the September 16 FOMC meeting.
Wall Street surged more than 1% overnight after Fed Governor Christopher Waller said he is inclined to hold rates steady later this month if inflation data continues to cool, slashing the probability of a September rate hike from near 70% to a coin flip. The S&P 500 climbed 1.1% to 7,747.71 for its best day in a month, bond yields retreated from multi-year highs, and the yen soared 2% on rising Bank of Japan rate hike expectations. ASX 200 futures are pointing 25 points higher to 9,037 as the Australian dollar hit a fresh four-month high at US72.08¢.
Wall Street rebounded on Wednesday as Dell surged 16% on record AI server demand and the global bond sell-off paused. The yen leapt nearly 1% on BOJ hawk talk, oil held above $90 on US-Iran escalation, and HSBC forecast back-to-back RBA rate hikes starting this month.
Wall Street sold off to close out August as fresh US airstrikes on Iran and tanker attacks in the Strait of Hormuz sent WTI crude surging 5.9% to $90.82 a barrel. The S&P 500 fell 0.71% to 7,631.47 while the Nasdaq dropped 1.03% to 26,099.77, dragged by a 2.1% slide in semiconductor stocks. Bond yields spiked across the globe, with the US 10-year hitting 4.79% and Japan’s 10-year breaching 3% for the first time since 1996. ASX 200 futures point to a weaker open, down 79 points.
Wall Street ended lower on Monday as renewed US–Iran military strikes sent Brent crude surging above $90 and pushed Treasury yields to their highest since January 2025. Despite the pullback, US stocks closed August with gains — the S&P 500 up 2.6% and Nasdaq up 3.9%. Fed Chair Warsh’s hawkish Jackson Hole speech has markets pricing a 64% chance of a September rate hike, with Friday’s nonfarm payrolls the key swing factor.