Traders work at the New York Stock Exchange on April 17, 2026. New York Stock Exchange Dow Jones Industrial Average futures fell early Tuesday to kick off a shortened week of trading, with Wall Street keeping an eye on the war between the United States and Iran as well as rising trade tensions between Canada and the United States. Futures tied to the 30-stock average lost 409 points, or 0.8%, as of 2:10 a.m. ET. S&P 500 futures fell 0.2% ahead of Tuesday’s regular session, while Nasdaq-100 futures rose 0.2%. US markets were closed on Monday for the Labor Day holiday. In Asia, South Korea’s Kospi gained 1.66%, while Japan’s Nikkei 225 rose 0.33% on Tuesday. Hong Kong’s Hang Seng Index fell 0.65%, while the mainland’s CSI 300 added 9.27%. Australia’s S&P/ASX 200 fell 0.5%. Oil prices hit six-week highs in Asian trading, rising for a third straight day, as Iran and the United States traded attacks over the weekend. Brent crude oil futures rose 1.4% to $98.39 a barrel. West Texas Intermediate futures rose 2.5% to $93.73. Crude oil prices have soared in the past month as the war between the United States and Iran continues, putting upward pressure on Treasury yields as traders worry that high energy prices will drive inflation. Last week, the benchmark 10-year Treasury yield rose to its highest level since November 2023, while the short-dated 2-year Treasury yield climbed to a high in January 2025. “A series of central bank meetings over the next few weeks will test whether stocks’ composure holds,” said Ed Yardeni, president of Yardeni Research. “Bond yields are also rising around the world. The question is whether this reflects better-than-expected economic growth, higher-than-expected inflation and/or looming fiscal debt crises.” The Federal Reserve will hold a monetary policy meeting next week. Traders are pricing in a 60% chance that the central bank will raise rates by a quarter percentage point after the meeting, according to CME Group’s FedWatch tool. Those odds could change this week with wholesale and consumer inflation data due out on Thursday and Friday, respectively. They could also be hit by another spike in oil prices as tensions in the Middle East continue to rise. Traders also have to once again deal with rising trade tensions between the United States and Canada. Canada’s retaliatory tariffs on about $20 billion of U.S. goods take effect Tuesday. President Donald Trump said Monday, before the new tariffs, that Canadian aircraft maker Bombardier cannot sell in the U.S. unless Canada starts manufacturing its products in the U.S. “NO MORE SELLING BOMBARDIER IN THE UNITED STATES!” Trump wrote in Truth Social.
