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Stock futures edge higher after record highs, oil and gold jump
Investors are also weighing a lower 10-year Treasury yield near 4.61%, alongside renewed bets on an oil-market deal affecting the Strait of Hormuz.
U.S. stock index futures pointed to modest gains Wednesday after the Dow and S&P 500 surged to fresh record highs in the prior session, with investors digesting a steady stream of company earnings. According to Yahoo Finance, futures tied to the Dow and S&P rose 0.4%, while Nasdaq-linked futures were up 0.2%.
Energy, rates, and commodities were mixed as trading looked ahead to potential progress around the Strait of Hormuz. Yahoo Finance reported WTI crude futures were up 0.5% to just under $81 per barrel after two straight days of sharp declines, while gold futures rose 2.0% to $4,250 an ounce, the highest since mid-June.
Market expectations also reflected a dip in long-term yields. The 10-year Treasury note yield was last ticked lower to 4.61%, a level that influences borrowing costs across the economy, according to Yahoo Finance.
Among notable movers, SpaceX shares fell after the company released its first quarterly results as a public company, despite a surge of more than 9% the prior day. Yahoo Finance said SpaceX reported second-quarter revenue that nearly doubled year over year and a narrower loss, while investors appeared wary about spending trends in the company’s AI business.
Latest closeGold $4,292.00 ▲1.1%|WTI crude $78.07 ▲3.8%|S&P 500 7,709.96 ▼0.2%