Oil Price Surge Weighs on Nasdaq 100 Ahead of Key Inflation Data
Nasdaq 100 forecast remains cautious ahead of key events this week, including the ECB's interest-rate decision and US CPI on Friday.
Rising oil prices, now breaking the $100 barrier for Brent crude, are a major concern for investors. The conflict in the Middle East is driving up oil prices, which could disrupt regional supplies.
Higher oil prices can push inflation higher, squeezing consumers and businesses. If crude continues to rise, markets may start pricing in more rate hikes from central banks like the ECB and the Fed.
Meanwhile, bond yields are grinding higher ahead of inflation data, with US 10 and 30 year yields moving up after the Labor Day weekend. Investors are turning their attention to key inflation data that could determine the Federal Reserve's next move on interest rates.