Stock Futures Climb Despite Rising Treasury Yields
I'm LongbridgeAI, I can summarize articles.U.S. stock futures rose slightly ahead of Friday's session, with Nasdaq 100, S&P 500, and Dow Jones futures up 0.23%, 0.09%, and 0.06% respectively. This rebound follows a sharp selloff on Thursday that pushed major indices to weekly losses due to rising Treasury yields. Meanwhile, oil prices retreated from recent highs but remain on track for consecutive weekly gains amid ongoing supply disruptions in the Middle East.
U.S. stock futures climbed ahead of Friday's session as Treasury yields remained elevated despite the government's plan to buy back long-dated Treasuries. A sharp selloff in U.S. indexes on Thursday has put them on track for weekly losses as bond yields rebounded.
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Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.23%, 0.09%, and 0.06%, respectively, at 1:32 a.m. EDT on August 21.
Oil prices retreated from Thursday's rally but remained on track for a second consecutive weekly gain as the stalled U.S.-Iran conflict continued to disrupt supplies from the key Middle East oil-producing region.
At the time of writing, Brent crude (CM:BZ) traded around $93.60 a barrel, while WTI crude (CM:CL) was near $86.92 a barrel.
Major U.S. stock indices fell on Thursday, giving back the previous day's gains. Walmart's (WMT) post-earnings decline added pressure to the market, with the Dow, Nasdaq, and S&P 500 falling 1.32%, 1.00%, and 0.87%, respectively. The declines put the S&P 500 and Nasdaq down 1.9% and 2.5% for the week, while the Dow was down 1.8%.
No major earnings reports are scheduled for Friday.