Oil Prices Surge Towards $100 as Apple Awaits iPhone Launch

U.S. stock futures are under pressure as oil prices surge towards $100 a barrel, fueling concerns about equity market sustainability amidst rising bond yields.

The Brent crude price is nearing a level that has historically been bearish for stocks, weighing on index futures and adding to inflation worries.

Apple's highly anticipated iPhone launch event is set to take place today, with investors eyeing new model pricing due to increased memory costs. The company's shares are currently 7% below their late-July highs.

Large-cap tech firms continue to expand aggressively in Europe, as evidenced by Amazon's £4 billion sterling bond sale and Google's €13 billion investment in AI infrastructure in Finland.