US Stocks Open Mixed Amid Tensions with Iran, Rising Oil Prices
US stock markets opened mixed on September 2 as investors weighed escalating tensions between the US and Iran, rising oil prices, and higher Treasury yields. The Dow Jones Industrial Average rose 0.4%, while the S&P 500 was up about 0.1%. In contrast, the Nasdaq Composite slipped 0.1%.
Gains in healthcare stocks, including Johnson & Johnson, Merck, and Amgen, helped support the Dow. Oil prices steadied after briefly touching their highest levels in over a month, with Brent crude rising above $95 a barrel.
The latest surge in oil prices has added to concerns over inflation, putting further pressure on bond markets. The 10-year Treasury yield held around 4.79%, while the 30-year yield stood at 5.27%. US stock futures were mixed, with those tied to the S&P 500 little changed and Nasdaq-100 futures slipping 0.2%.
Uber shares rose after the company announced plans to cut about 3,300 jobs, or roughly 10% of its workforce, as part of a restructuring aimed at reducing management layers.