NEW YORK, Sept 8, 2026 (BSS/AFP) - Wall Street retreated early Tuesday as oil prices pushed higher while markets awaited key inflation data later in the week.

Brent oil futures were trading above $97 a barrel following Houthi attacks targeting Saudi oil infrastructure, part of an effort to gain control of Bab al-Mandab Strait, a conduit for Saudi crude after Iran blockaded the Strait of Hormuz.

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 52,962.18.

The broad-based S&P 500 dipped 0.2 percent to 7,701.95, while the tech-rich Nasdaq Composite Index also lost 0.2 percent at 26,464.68.

Markets are looking ahead to consumer and wholesale inflation reports later in the week, considered key inputs for a Federal Reserve September 16 decision on interest rates.

"Our forecast is that we're going to see a fairly big inflation increase this month, so we are expecting the Fed will raise rates," said FHN Financial's Chris Low.

Among individual companies, GE Aerospace rose 0.7 percent after announcing it would buy Consolidated Precision Productions for $11.75 billion from private investment firms Warburg Pincus and Berkshire Partners.

CPP is a manufacturer of castings, which are used to make aviation parts.