Stock market today: Dow leads slip in US futures as Mideast caution grips investors

Published On Oct 2, 2024, 7:16 AM

US stock futures are declining as heightened tensions between Israel and Iran raise concerns about a broader conflict in the Middle East. The Dow futures fell by 0.3%, while S&P 500 and Nasdaq futures also saw minor decreases. The geopolitical situation is accompanied by rising oil prices, leading to fears of increased inflation, which could disrupt recent Federal Reserve progress toward managing interest rates. Additionally, Nike's shares dropped significantly after the company withdrew its annual forecast following a disappointing revenue report.

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Stock Forecasts

NKEView NKE chart on TradingView

Negative

Given the heightened geopolitical tensions and rising oil prices, the market may experience further declines. Investor sentiment is likely to be cautious, affecting various sectors, especially energy and consumer goods.

XLEView XLE chart on TradingView

Negative

With rising oil futures, companies reliant on stable oil prices and unaffected supply chains may face challenges. Companies in the energy sector could see volatility, depending on how supply risks develop.

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