US pre-open: futures ease as the ten-year yield, dollar and oil stay elevated
S&P futures and Nasdaq futures are slightly lower, with the ten-year yield at 5.35, the dollar index at 102.48 and WTI crude at 89.97. Gold is 4092.6 and VIX is 15.76 before the US open.
S&P 500 futures -0.4128%ten-year yield at 5.35 and stronger dollar
Nasdaq futures -0.7004%higher rates and weaker risk tone
US 10-year yield +1.4424%markets awaiting FOMC minutes
WTI crude +0.5926%elevated oil on Middle East supply concerns
Lead: US futures are softer before the open, with S&P futures down 0.4128% and Nasdaq futures down 0.7004% as the ten-year yield sits at 5.35. Session narrative: The dollar index is at 102.48, WTI crude is 89.97 and Brent is 101.46, while gold is down 2.2569% and silver is down 3.4487%. Cross-asset check: VIX is 15.76, Russell 2000 ETF is down 1.648% and long-duration Treasuries are lower, signaling a cautious tone. Themes & continuing stories: The market is still centered on Fed minutes, higher energy costs and the inflation backdrop tied to the Iran war. What’s ahead: The FOMC minutes later today are the main catalyst for rates, FX and equity direction.