US stock futures slipped on Tuesday as Wall Street returned from an extended holiday weekend, with higher oil prices keeping inflation risks and interest rate worries in focus. Crude prices rose further after the US and Iran carried out reciprocal strikes over the weekend.
Investors also confronted rising trade frictions as Canada’s retaliatory tariffs on about $20 billion of US goods took effect on Tuesday.
On the monetary policy front, futures markets are assigning roughly a 60% chance that the Federal Reserve will raise interest rates by 25 basis points at its meeting next week.
In corporate news, Uber has hired banks to meet with investors this week ahead of a planned debut euro-denominated bond offering. Separately, Novo Nordisk halted two more trials of its experimental heart disease drug, marking another setback for the treatment’s prospects.
