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S&P 500 and Nasdaq 100 futures rise as oil and yields ease
WTI crude dropped more than 3% and the 10-year Treasury yield slipped to 4.69%, while investors look to U.S. PMI and upcoming corporate earnings.
U.S. stock index futures edged higher as the market found some relief after a volatile week, with September S&P 500 E-Mini futures up 0.3% and September Nasdaq 100 E-Mini futures up 0.1%. The move came alongside retreating energy prices and lower bond yields, which had both pulled back from recent highs.
Oil fell sharply Friday, with WTI crude down more than 3%, helping drag Treasury yields lower from their peak levels. The 10-year T-note yield fell by 1 basis point to 4.69%, according to Yahoo Finance, while U.S. and Iran tensions were flagged as a reason energy prices could stay elevated.
In pre-market trading, some megacap stocks supported futures, including a mild rebound in most of the so-called Magnificent Seven. Intel climbed more than 6% after posting upbeat Q2 results and issuing Q3 revenue guidance that beat Wall Street estimates, though the broader AI trade remained pressured as many chip peers fell.
The session also kept investors focused on near-term data and earnings. Yesterday, major U.S. indices closed sharply lower, including Tesla down more than 14% after weaker-than-expected Q2 adjusted EPS and first cash burn in two years, and Alphabet down more than 7% after raising full-year capital spending guidance up to as much as $205 billion, Yahoo Finance reported.
Latest closeWTI crude $90.47 ▼1.9%|S&P 500 7,411.98 ▲0.1%|Nasdaq Comp. 24,975.82 ▼0.6%