US midday: Nasdaq leads as crude drops and yields ease
US equities are higher at midday, with Nasdaq futures and the Nasdaq ETF leading. The ten-year yield is 4.96, long-duration Treasuries are firmer, and WTI crude is down sharply on easing Middle East supply worries.
Nasdaq futures +2.5362%Growth-led risk bid
Nasdaq 100 ETF +2.4149%Semiconductor and large-cap tech strength
WTI crude -4.7877%Diplomacy hopes easing supply fears
US 10-year yield -0.8603%Lower oil and reduced inflation pressure
Lead: US stocks are higher at midday, with Nasdaq futures leading and crude extending its drop. Session narrative: Nasdaq futures are up 2.5362% and the Nasdaq ETF is up 2.4149%; S&P 500 futures are up 1.3906%, while the Dow and Russell are positive but trailing. VIX is 15.12 and up on the day. Cross-asset check: The ten-year yield is 4.96, down 0.8603%, and long-duration Treasuries are firmer. Dollar-yen is 157.395. Themes & continuing stories: Lower crude remains the main story, with WTI down 4.7877% and Brent down 3.9581% on diplomacy hopes. Gold and silver are lower, copper is higher. What’s ahead: Watch whether oil stays under pressure and whether Nasdaq leadership holds into the afternoon.