Wall Street futures muted as Brent crude oil surpasses $100 for the first time since July, increasing Fed rate hike expectations.

Wall Street futures exhibited muted activity as Brent crude oil prices breached $100 a barrel, marking the first time since July. This surge in energy prices is contributing to a risk-off sentiment across financial markets. Concurrently, markets are now indicating a 60.4% probability of a 25 basis point interest rate increase by the Federal Reserve at its upcoming meeting next week. Analysts from Morgan Stanley have identified rising oil prices and interest rates as significant near-term risks to equities.