ASX futures dip as oil spikes and US inflation data sway markets

Ahead of the opening bell, ASX 200 futures fell roughly 0.5% to 8,765 points, echoing a dip in US markets after a brief rally tied to softer-than-expected August inflation data. The US reported headline inflation of 0.3% for the month, bringing the annual rate to 3.4%, and core PCE growth of 0.2%, easing to a 3% yearly pace. Despite the modest US market rebound, the Dow and S&P 500 closed slightly lower, while the Nasdaq edged up.

Oil prices surged, with Brent futures up about 0.9% to $103.50 a barrel, reinforcing worries about persistent inflation. Other commodities showed mixed moves, and the Australian dollar inched up to 69.5 US cents.