US-Iran Conflict Drives Oil Prices to $90, Fed Chair's Hawkish Comments Weigh on Market Sentiment
Investors are cautiously assessing the market after Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole annual central bank symposium. The comments reinforced expectations of higher interest rates for longer or even further tightening, weighing on gold prices and investor sentiment.
The U.S.-Iran conflict has escalated again, with international oil prices rising sharply as Brent crude broke back above $90 per barrel. This development complicates the outlook for inflation and interest rates, keeping overall market sentiment cautious.
Pre-market futures for the major US stock indices traded lower, with Nasdaq 100 down 0.13%, S&P 500 dipping 0.16%, and Dow 30 declining 0.13%. Memory chip stocks broadly fell, while energy stocks advanced across the board as oil prices rose.
Intel's Chief Financial Officer David Zinsner stated at the Deutsche Bank 2026 Technology Conference that the current defect density of the Intel 14A process node is better than the company's original target, and the defect rate is declining at the fastest pace of any process node in Intel's history. The stock rose 2% in pre-market trading.