US Stock Futures Edge Lower as Yields Stay Elevated
US stock futures slip on Monday as investors stay cautious after Treasury yields rose sharply last week, with the 30-year US yield above 5.3% and major US averages lower.
US stock futures slipped on Monday as investors remained cautious following a sharp rise in Treasury yields that pressured major averages last week.
The Dow dropped 0.8% last week for its second consecutive weekly decline, while the S&P 500 and Nasdaq Composite fell 1.4% and 2%, respectively, snapping three-week winning streaks.
The selloff came as the 30-year US Treasury yield climbed above 5.3%, reaching its highest level in nearly two decades, while bond yields in Japan, France and Germany also rose to multi-year highs.
Investors remained concerned that the prolonged US-Iran conflict could keep oil prices elevated and fuel inflation, limiting the scope for lower interest rates.
Meanwhile, Treasury Secretary Scott Bessent is set to announce new sanctions on Iran, while markets await the July PCE inflation report and Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole symposium later this week.
Nvidia and Marvell Technology earnings will also be closely watched this week.