Market Recap | 12-Sep-2024

U.S. stock futures edged higher as investors anticipate key inflation and labor data, which could provide insights into the Federal Reserve’s next moves regarding interest rates. The market sentiment remains cautious, with inflation remaining a concern and the upcoming labor data likely to play a significant role in shaping investor outlook.

Oil prices have dipped sharply, with Brent crude falling below $70, the lowest since December 2021. OPEC+ has delayed plans to increase production due to weak demand, particularly from China and the U.S., the largest oil consumers. This decline is attributed to slow economic growth in these regions and geopolitical tensions affecting supply.