Global Markets Mixed Amid Wall Street Rally, Iran War Disrupts Fuel Supplies
The global market is experiencing mixed trading following a rally on Wall Street led by technology stocks. U.S. futures are uncertain ahead of the crucial August jobs report, which could impact the Federal Reserve's next decision on interest rates.
Futures for the S&P 500 rose 0.1%, while those for the Dow Jones Industrial Average slipped 0.1%. Nasdaq futures increased by 0.5%.
The U.S. Labor Department is expected to release data showing a net gain of 65,000 jobs last month, after a surprise loss of 23,000 positions in July. The job market remains clouded by a shortage of workers due to President Donald Trump's immigration crackdown and the retirement of baby boomers.
The recent surge in energy prices is attributed to the six-month war with Iran, which has disrupted the global flow of fuel. U.S. crude declined 0.9% to $90.49 a barrel, while Brent crude fell 0.7% to $94.84 a barrel.