Dow Futures Slip Amid Fed Hike Bets and Surging Oil Prices

U.S. stock futures were mixed Monday night as investors returned from the Labor Day holiday to renewed concerns over inflation, higher oil prices and the prospect of a Federal Reserve rate hike next week.

The Dow Jones Industrial Average futures slipped 0.8% to 53,034.0 points by 03:13 ET (07:13 GMT), while S&P 500 Futures inched 0.2% lower to 7,704.75 points. Nasdaq 100 Futures rose 0.2% to 29,609.75 points.

Investors have sharply increased bets on a September rate increase after data showed U.S. employers added 162,000 jobs in August, well above economists’ expectations, while the unemployment rate held at 4.1%. Futures markets were pricing roughly a 60% probability of a 25-basis-point increase at the Fed’s Sept. 15-16 meeting, up from 49% before the report.

UBS became one of the latest major banks to revise its outlook, forecasting two Fed rate hikes this year, including one in September and another in December. The bank had previously expected no rate changes in 2026.