December S&P 500 E-Mini futures (ESZ26) are up +0.07%, and December Nasdaq 100 E-Mini futures (NQZ26) are down -0.08% this morning as investors refrain from making big bets ahead of the release of the Federal Reserve’s preferred inflation gauge and earnings from memory-chip maker Micron Technology.
The price of WTI crude rose over +1% on Wednesday as investors weighed uncertainty surrounding U.S.-Iran talks against signs of a continued recovery in Persian Gulf crude exports. JPMorgan and Goldman Sachs said Middle East oil flows were nearing pre-war levels after Saudi Arabia increased shipments through its East-West pipeline in recent days. Still, supply risks remain as threats to regional energy infrastructure and shipping persist.