Stock Market Today: Stocks slip as inflation fears, oil surge, hit sentiment

U.S. equity futures edged lower Friday while Treasury bond yields steadied and the dollar retreated, as investors prepped for the start of the third quarter earnings season amid renewed inflation concerns and the escalating war in Israel., will publish third quarter earnings prior to the opening bell as the reporting season gets into full-gear on Wall Street, with investors likely focused on the state of the consumer heading into the final months of the year.

The data, as well as the 10-year and 30-year bond sales, have lifted bets on a December rate hike from the Fed, with the CME Group's FedWatch placing the odds at around 33%. Global oil prices, however, were moving firmly in the opposite direction after the U.S. imposed fresh sanctions on tanker operators moving Russian crude that is priced above the $60 cap put in place last year following Moscow's invasion of Ukraine.

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