US stocks fell to start the week as renewed US-Iran tensions lifted oil prices and pushed Treasury yields higher, with crude near $92 a barrel and Brent above $100. Federal Reserve Governor Lisa Cook said she expects AI-related demand and rising oil prices to keep pushing inflation higher in the coming months, though she noted any further rate hikes would depend on incoming data. The Fed raised its benchmark rate to 3.75%-4.00% on September 16, and officials have pencilled in one more possible increase before year-end without committing to it. Markets are now bracing for this week's US PCE inflation report — the Fed's preferred inflation gauge — and Friday's September jobs report, both seen as key signals for whether the central bank tightens again.
