Australian shares are set to open modestly higher. Wall Street slipped to start its trading week with oil rising amid continuing uncertainty about the outlook for the war between the US and Iran.
US President Donald Trump told reporters at a White House event that the US is poised to win the war “very soon”, though reports suggested that any agreement between the two countries is unlikely soon.
Oil’s rise renewed worries about inflation and the prospect that the US Federal Reserve will be forced to lift interest rates in late October. The probability of a quarter-percentage-point rate increase next month is 70.3 per cent, up from 64.2 per cent on Friday and 17.7 per cent a month ago.
S&P/ASX 200 Index futures were up 1 point to 8721 near 7am (AEST). In New York, the S&P 500 was down 0.8 per cent at the close. Communication services paced eight of the 11 industry sectors lower.
Boeing shed 6.9 per cent after the US Federal Aviation Administration said it will delay certification of Boeing’s long-delayed 737 MAX 10 until a newly disclosed software issue is resolved.