US Futures Edge Lower as Bond Yields Weigh
US stock futures edged lower on Friday as surging Treasury yields continued to weigh on equities, with the Dow on track for its fourth consecutive weekly decline. Futures tied to the Dow, S&P 500 and Nasdaq 100 were each down around 0.1%. In regular trading on Thursday, the Dow slipped 0.31%, while the S&P 500 and Nasdaq Composite finished little changed. The moves came as the 10-year US Treasury yield jumped to 5.2%, its highest level since 2007, while the 30-year yield climbed to 5.5%, its highest since 2004. Oil-market volatility also pressured sentiment as investors weighed reports that the US and Iran were discussing a phased deal that could reopen the Strait of Hormuz and lift a US blockade on Iranian ports. Investors now await the University of Michigan consumer sentiment report and durable goods data due Friday, with no major earnings releases scheduled.
US stock futures edged lower on Friday as surging Treasury yields continued to weigh on equities, with the Dow on track for its fourth consecutive weekly decline. 1%. 31%, while the S&P 500 and Nasdaq Composite finished little changed. 5%, its highest since 2004.
Oil-market volatility also pressured sentiment as investors weighed reports that the US and Iran were discussing a phased deal that could reopen the Strait of Hormuz and lift a US blockade on Iranian ports. Investors now await the University of Michigan consumer sentiment report and durable goods data due Friday, with no major earnings releases scheduled.