Finance

Crude oil prices remained structurally elevated following recent military exchanges between the United States and Iran in the Middle East. Brent crude futures settled up 1% to reach $95.63 per barrel, while West Texas Intermediate neared $91 per barrel. The ongoing conflict continues to stoke broader inflation fears across global financial markets.

Private sector employment data from ADP revealed that firms added just 38,000 jobs in August, coming in below expectations and representing the lowest single-month gain since January. This decelerating growth complicates future policy considerations for the Federal Reserve. The central bank faces the delicate challenge of cooling inflation without inducing severe weakness in the employment sector.

Ford Motor Company reported a 10.3% year-over-year decline in total U.S. vehicle sales for August, continuing an eight-month downturn primarily exacerbated by supply chain disruptions following a major aluminum facility fire. However, the equity gained traction as investors focused on highly lucrative segments, including a 20-year high in Super Duty truck manufacturing. This pivot helped overshadow an 80% dive in the company's monthly electric vehicle deliveries.