S&P 500, Dow Futures Fall as Oil Tops $99 Despite Trump’s Price Drop Prediction — ASML, NVS, CASY in Focus
4m | Sep 8, 2026U.S. stock futures declined on Tuesday, as the Dow Jones, S&P 500 and Nasdaq 100 indices fell, following Friday’s lower close.
Small business sentiment cooled in August as the NFIB Small Business Optimism Index fell 1.1 points to 98.7, pulling back from July’s high but remaining slightly above its 52-year average of 98.0. The drop was largely driven by deteriorating expectations for general business conditions and a net negative 9% of owners reporting lower nominal sales over the past quarter.
Brent crude futures climbed above $99 per barrel as U.S. markets reopened following the Labor Day holiday, driven by national gas prices hitting a record holiday high of $4.15 a gallon on Monday. Addressing the surge, President Donald Trump posted on Truth Social that oil prices “will drop precipitously” once the conflict with Iran ends, predicting prices will fall to “Three Dollars a gallon, but ultimately, below Two Dollars a gallon.”
This week, investors will look out for the August Consumer Price Index (CPI) report due on Friday and Apple Inc.’s (NASDAQ:AAPL) highly anticipated product release event on Wednesday, which is expected to feature new iPhone 18 models.
Meanwhile, the 10-year Treasury bond yielded 4.81%, and the two-year bond was at 4.38%. The CME Group’s FedWatch tool projections show markets pricing in a 60.4% likelihood of the Federal Reserve hiking interest rates at its September meeting.
The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100, respectively, were mixed on Tuesday. The SPY was down 0.26% at $768.16, while the QQQ advanced by 0.049% to $719.32.
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