S&P 500 Struggles as Oil Nears $100 Amid Rising Inflation Concerns

US stocks are set for a mixed open after the Labour Day long weekend as investors return to fresh concerns over oil prices and inflation risks ahead of this week's key economic data releases.

The S&P 500 is struggling, with Brent crude nearing $100 a barrel amid renewed tensions in the Middle East, adding to inflation pressures. The market is pricing in a 60% chance of a Fed rate hike next week, according to recent data.

Attention is firmly on US PPI and CPI inflation data releases this Thursday and Friday, which will provide further clues over the Fed's interest rate trajectory. The data will be closely watched, particularly with oil prices near $100 a barrel.