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Commerzbank Says Equities, U.S. Stocks Futures Edge Higher as Middle East Tension Stay in Focus; Oil, Treasuries Steady

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U.S. equity futures moved higher despite mixed performance across Asian equity markets, according to Commerzbank. Brent crude was steady at around $79 a barrel and Treasuries were rangebound.

The U.S. launched another round of strikes against Tehran as President Donald Trump declared the ceasefire "terminated" and said he was unsure about pursuing a deal with Iran, wrote the bank in a note. Vice President JD Vance said Iran's nuclear programme had been destroyed and warned the U.S. would respond if the Islamic Republic tried to close the Strait of Hormuz.

Minutes from the latest FOMC meeting reinforced the Federal Reserve's cautious stance, with most policymakers viewing the risk of persistently high inflation spilling over into inflation expectations as still high, said Commerzbank. While a few members saw scope for additional rate hikes, the FOMC unanimously agreed to keep interest rates unchanged.

In Europe, Chairman Martin Schlegel said the Swiss central bank is ready to intervene in the foreign exchange market if needed, adding that medium-term inflation pressures have remained broadly unchanged. In France, Marine Le Pen has widened her lead in first-round presidential polls, according to the latest Ifop-Fiducial survey, following the recent court ruling that allows her to take part in the election.

China's consumer price index inflation eased to 1.0%, less than market expectations, while the producer price index inflation was in line with forecasts.

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