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Sunday-evening stock futures slip: Dow -0.2%, S&P 500 and Nasdaq 100 futures -0.2% as oil futures rise above $93/barrel; PCE inflation data due Wednesday, September jobs report due Friday
What happened
Shortly after 6 p.m. ET on Sunday, September 27, Dow Jones Industrial Average futures were down 104 points, or 0.2%, with S&P 500 and Nasdaq 100 futures also off 0.2%, according to Barron's. WTI crude futures rose nearly 1% to trade above $93 a barrel (about $93.28), while Brent traded above $106 a barrel, amid no progress in U.S.-Iran talks. President Trump said Saturday he had rejected Iran's proposal to reopen the Strait of Hormuz as 'unacceptable,' and on Sunday did not rule out further U.S. military strikes on Iran before the November midterm elections.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Rate-sensitive megacap growth and technology stocks (the Magnificent 7, e.g. Meta Platforms, which pulled back more than 2% overnight following its Meta Connect gains), which face pressure from rising yields and oil-driven inflation fears. U.S. refiners and oil majors (e.g. Exxon Mobil, Chevron, Marathon Petroleum, Valero) on the other side of the oil move — supported by higher crude. Airlines and other fuel-cost-exposed transport names (e.g. American, Delta, United) are hurt by oil above $93/barrel. Bond proxies (utilities, REITs, telecom) tend to sell off when yields rise. Memory and AI-adjacent names like Micron were in focus ahead of quarterly earnings.