US Futures Fall, Oil Gains as Mideast Risks Rise – Europe Market Wrap

US market futures declined ahead of economic data that could provide additional insight into the Federal Reserve’s policy trajectory, as the possibility of a worsening crisis in the Middle East reduced risk appetite. Crude oil maintained its advances.

S&P 500 and Nasdaq 100 contracts suggested a weaker opening on Wall Street, while premarket trading saw US-listed China stocks decline following significant gains this week. Levi Strauss shares fell sharply among individual stocks following the garment company’s reduction of its revenue growth forecast for the entire year.

With everyone waiting to see how Israel will react to an Iranian missile assault, global stocks are headed for their first weekly drop in four months. After eight of its soldiers were killed in fighting with Hezbollah in southern Lebanon, Israeli aeroplanes bombarded Beirut over night. Investors are waiting on a plethora of US data, including jobless claims today, to provide clues about the state of the economy amid the geopolitical unpredictability.