US Midday: Stocks firmer, oil softer, yields still elevated as Iran headlines drive tape
S&P futures are higher, the ten-year yield is 5.18, and WTI crude is 92.07 as traders lean on lower oil and watch Iran headlines.
S&P 500 futures +0.4377%Risk appetite improved as oil eased from earlier highs.
Nasdaq futures +0.4307%Lower oil and steadier equities helped growth-sensitive futures.
US 10-year yield +0.4262%Yields stayed elevated despite the pause in the bond selloff.
WTI crude -2.6847%Iran and Strait of Hormuz headlines pulled crude lower on the day.
Lead: S&P futures are higher, the ten-year yield is 5.18, and WTI crude is 92.07 as traders keep geopolitics front and center. Session narrative: Equities are firmer, with the major futures contracts positive and the VIX lower at 14.98. Oil has pulled back on Iran headlines, but rates remain elevated and are still shaping the tape. Cross-asset check: The dollar index is 101.01, dollar-yen is 157.232, and TLT is weaker. Themes & continuing stories: Iran and the Strait of Hormuz remain the main energy catalyst, while higher yields continue to weigh on valuation-sensitive stocks. What’s ahead: The afternoon focus stays on any fresh Iran-US update and the next move in Treasuries.