The S&P 500 Index ($SPX) (SPY) is down by -0.29% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.64%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.51%. E-mini S&P futures (ESU26) are down -0.20%, and September E-mini Nasdaq futures (NQU26) are down -0.30%.
Stock indices are under pressure today, with the S&P 500 and Nasdaq 100 falling to 2-week lows and the Dow Jones Industrial Average falling to a 2.5-week low. Rising oil prices today are boosting inflation risks and pushing bond yields higher. WTI crude oil climbed to a 1-month high today after President Trump threatened Iran with economic isolation, dimming prospects for both an imminent breakthrough in the war between Iran and the US and a normalization of crude flows through the Strait of Hormuz. The 10-year T-note yield is up +4 bp to 4.69%.
