December E-mini Russell 2000 futures pulled back from a four-week high, underperforming the other three major U.S. stock index futures to trade near flat after touching an intraday low of 2,817.70. Small-cap equities faced headwinds from two fronts during the session. First, crude oil advanced following an attack on a Saudi refinery, raising concerns over higher operating costs and tighter corporate profit margins. Second, Treasury yields climbed after the Federal Reserve held interest rates steady in a 10-2 decision, with two dissenting members favoring an immediate rate hike and the policy statement keeping future increases on the table. Given the small-cap sector's reliance on short-term and floating-rate debt, higher borrowing costs and persistent inflation pressure continue to weigh on market sentiment.
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