September S&P 500 E-Mini futures (ESU26) are up +0.12% this morning, finding some footing after three straight sessions of losses as oil prices and bond yields retreated.
The price of WTI crude fell over -1% on Wednesday, paring some of yesterday’s surge even as fighting between the U.S. and Iran over control of the Strait of Hormuz intensified. U.S. Central Command said the U.S. military conducted a fresh wave of strikes overnight, targeting radar systems and mine-laying capabilities along Iran’s southern coast. The Islamic Republic responded with barrages of drones and missiles against U.S. bases across the Middle East.