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US stock futures slip as oil prices rise and Treasury yields near highs
Brent futures jumped to $92 per barrel, and the 30-year Treasury yield climbed to 5.33% near its highest level since 2002 as the US fiscal deficit widened.
US stock futures pointed to a weaker start to Tuesday’s session, with technology stocks retreating as higher oil prices and rising bond yields intensified inflation concerns, according to LiveMint Markets.
Index futures fell, with S&P 500 futures down 0.4% and Nasdaq-100 futures down 1.1%, extending Monday’s decline and pointing to a third straight day of losses for the S&P 500.
The report cited Brent crude futures rising to $92 per barrel and US crude futures topping $85 per barrel, alongside a climb in the 30-year Treasury yield to 5.33%, near the highest level since 2002 amid a worsening US fiscal outlook and persistently high inflation.
LiveMint Markets also linked the move in yields to a bigger fiscal picture, noting the US fiscal deficit jumped to $432.3 billion in July, the highest monthly total since March 2021, while investors looked ahead to the Fed’s July meeting minutes and remarks ahead of the Jackson Hole symposium.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|S&P 500 7,785.76 ▼0.2%