U.S. Futures Steady as Investors Monitor Oil Prices, Fed Data and Bond Yields: Dow Jones, S&P, Nasdaq, Wall Street

U.S. Futures Steady as Investors Monitor Oil Prices, Fed Data and Bond Yields: Dow Jones, S&P, Nasdaq, Wall Street

Fiona Craig

Wed, September 2, 2026 at 12:26 PM GMT+3 2 min read

U.S. stock futures were little changed on Wednesday as investors awaited U.S. economic data and the Federal Reserve's Beige Book while monitoring developments involving the United States and Iran and further increases in global government bond yields.

S&P 500 Futures were flat at 7,637.5 points as of 03:20 ET, while Nasdaq 100 Futures were unchanged at 29,112 points. Dow Jones Futures gained 0.17% to 52,914 points.

The moves followed a lower session on Wall Street, where major indexes declined by as much as 1% at the start of September.

U.S.-Iran Developments Keep Strait of Hormuz in Focus

Investors continued to monitor the Middle East after the United States carried out another round of strikes against Iran's Islamic Revolutionary Guard Corps, representing the second U.S. attack on Iran during the week.

The status of the Strait of Hormuz remains disputed. The United States says the waterway remains open to commercial shipping, while Iran says it remains closed.

Developments in the region have contributed to higher oil prices, increasing market attention on the potential implications for inflation and monetary policy.

Fed Beige Book and Economic Data in Focus

Investors are also awaiting U.S. economic data and the Federal Reserve's Beige Book for additional information on economic activity, employment and inflation.

Markets are assessing whether inflation remains elevated enough to keep interest rates higher or whether signs of slower economic and labour-market activity could eventually provide central banks with scope to adjust monetary policy.

The Bank of Canada's policy communication is also being monitored as investors assess how central banks are responding to inflation, economic growth and elevated borrowing costs.

Any implications for future monetary policy remain dependent on incoming economic data and central-bank decisions.

U.S. 10-Year Treasury Yield Approaches 5%

Government bond yields continued to move higher across several major markets.

The U.S. 10-year Treasury yield was approaching 5%, near a three-year high. Australia's 10-year government bond yield reached its highest level in more than 15 years, while Japan's 10-year yield was trading around levels not seen for approximately three decades.

Higher government bond yields can affect equities by increasing the returns available from fixed-income securities relative to stocks and by raising financing costs across the economy.

They can also increase the discount rates used to value future corporate cash flows, which can have a greater effect on companies whose valuations depend heavily on earnings expected further into the future, including some growth and technology stocks.

Markets Assess Rates, Oil and Geopolitical Developments

Investors are therefore monitoring several factors simultaneously, including elevated bond yields, higher oil prices, developments involving the United States and Iran, and the outlook for Federal Reserve policy.

The direction of monetary policy will depend on subsequent inflation, economic and labour-market data, as well as decisions and communications from policymakers.

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