Traders work on the floor of the New York Stock Exchange during morning trading on June 26, 2026 in New York City.
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Stock futures fell on Sunday night after the United States struck an Iranian rocket on Larak Island in the Strait of Hormuz, reigniting fears of an escalation.
Dow Jones Industrial Average Futures The stock traded down 85 points (0.16%). S&P500 futures It fell by 0.2%. Nasdaq 100 futures.
In Asia, markets fell, with South Korean stocks leading the decline in the region. benchmark Kospi It fell 3.5%. Japan’s Nikkei Stock Average fell 2.16%, while Australia’s S&P/ASX 200 index fell 0.27%.
Wall Street is ending a month of gains led by the tech sector. The Dow Jones Industrial Average rose 2.1% in August, marking the fifth straight month of gains. The S&P 500 and Nasdaq Composite were headed for their first one-month gains since May, rising 3% and 4%, respectively. The S&P 500 and Dow also hit new all-time highs in early August.
Tech stocks led the way this month, with artificial intelligence stocks outperforming. The S&P 500’s tech sector rose nearly 6% for the month. Nvidia rose more than 8%, while Microsoft and Micron Technology rose 11% and 13%, respectively.
Indeed, August remained a turbulent month, with inflation concerns pushing U.S. Treasury yields to multi-year highs. The Treasury Department has tried to stave off a collapse by saying it will increase bond buybacks, but yields on the longer end of the curve are still rising. Federal Reserve Chairman Kevin Warsh also said on Friday that he was concerned about inflation, noting: “This summer’s (inflation) readings were better than expected, but we cannot say that the underlying trend has improved in a meaningful way.”
“Given his aversion to signaling, we doubt this was intended to foreshadow September tightening, but his hawkish arguments make a 25bp rate hike in September more likely. Given his inflation metrics, our metrics call for another rate hike in December,” Barclays economist Jonathan Miller said in a note.
Rising tensions in the Middle East also contributed to the volatility in trading in August. On Sunday, US Central Command confirmed to MS NOW that the US had struck two rocket launchers on Iran’s Rarak Island.
Oil prices soared in early trading after the attack. us oil The oil price rose 2.1% to $85.14 per barrel. brent futures The stock rose 2% to $89.90.
Investors will get more insight into the state of the economy this week ahead of the August jobs report, due Friday morning. Monthly data for the manufacturing and services sectors are also included.
