US Market Open: Stocks hit with NQ -1.3% as Oil and Yields weigh on the risk tone

Iranian Parliamentary Speaker Ghalibaf said the Strait of Hormuz will not open until the blockade and oil embargo are lifted.Global equities trade on the softer side, driven by the upside in bond yields (US 30yr 5.32%).DXY continues to rebound, GBP lower despite mixed jobs/wages data.Energy benchmarks rangebound; record copper prices boost BHP earnings.Looking ahead, highlights include US ADP Employment Change Weekly, Import/Export Prices (Jul), Housing Starts (Jul), Industrial/Manufacturing Production (Jul), Atlanta Fed GDP (Q3). Comments from ECB's Lane. Earnings from Home Depot.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk