NewsWPLG Local 10 – Main FeedAugust 12, 2026Miami-Dade
Markets rise ahead of July inflation report as oil prices climb amid Iran conflict
U.S. stock futures are trending upward as investors await July inflation data, which economists project will show a slight decline to 3.4%. Meanwhile, global oil prices remain elevated due to the closure of the Strait of Hormuz and ongoing regional conflict involving Iran.
Read the full story at WPLG Local 10 – Main FeedWhy It Matters
The upcoming inflation report will influence Federal Reserve decisions on interest rates, which directly affect the cost of borrowing for mortgages, business loans, and consumer credit.
Key Facts
- Economists expect July inflation to be 3.4%, down from 3.5% in June.
- S&P 500 futures rose 0.3%, Dow Jones Industrial Average futures rose 0.1%, and Nasdaq futures rose 0.7%.
- Brent crude oil rose 0.19% to $89.08 per barrel.
- U.S. benchmark crude oil rose 0.4% to $83.53 per barrel.
- National average gasoline price is $4.04 per gallon, an increase of 16 cents from last month.
- The Strait of Hormuz is effectively shut down due to fighting in Iran.
- CoreWeave stock surged over 18% and Super Micro Computer stock jumped nearly 9% following quarterly results.
- Long-term mortgage rates have reached their highest levels in a year due to rising Treasury yields.
Who's Mentioned
organizationSuper Micro Computer“Technology company with rising stock.”organizationCoreWeave“Cloud computing company with surging stock.”organizationAAA“Motor club reporting gasoline price averages.”organizationFederal Reserve“Monitors inflation and sets interest rates.”personBen May“Director of global macro research at Oxford Economics.”personDonald Trump“U.S. President commenting on conflict with Iran.”