Oil-driven inflation pushes Fed rate-hike bets higher before Sept 16

Oil near $100 a barrel has kept inflation stubbornly high, and traders now see roughly even odds the Fed raises rates on September 16 rather than holds. Higher rates make borrowing costlier across the economy, a headwind for the broad market. State Street SPDR S&P 500 ETF Trust (SPY), which tracks the 500 largest US companies, moves with that risk.