- Global equities fell and oil prices jumped following an escalation in hostilities between U.S. and Iranian forces.
- U.S. equity futures signaled a lower open, with Nasdaq 100 futures down 1.2% and S&P 500 futures down 0.5% in early trading.
- The geopolitical tension coincides with a slight easing of inflation in Romania, where consumer prices rose 10.4% in June, though volatile oil prices threaten the outlook for interest-rate cuts.
Quotes
“Romanian inflation eased as the impact of last year’s tax increases gradually faded away with the outlook for potential interest-rate cuts clouded by volatile oil prices.”