Wall Street Flatlines Amid Iran Conflict Fears and Rising Oil Prices

The US stock market experienced a muted start on Thursday due to concerns over inflation and a potential escalation of the Iran conflict.

The recent sharp climb in oil prices has fueled worries about rising inflation, which in turn is pushing up government borrowing costs globally.

This development has also contributed to growing bets that interest rates will increase, with the odds of a US Federal Reserve rate hike now standing at 60% for the upcoming two-week period.

Noah Hamman, CEO of AdvisorShares, expressed his views on the matter, stating that he believes US rates will remain unchanged this month but may rise in October ahead of the midterm elections.