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Wall St. futures edge lower as tech retreats and Iran tensions persist
Investors are watching long-dated US Treasury yields, with the 30-year yield recently near 5.3%, and a July PCE inflation update due Wednesday.
US stock index futures slipped on Monday, 24 August, as technology and chip stocks retreated, while escalating Middle East tensions and elevated long-dated US bond yields kept sentiment fragile, according to LiveMint Markets citing Reuters.
The report said Dow Jones Industrial Average futures fell 11 points, while S&P 500 and Nasdaq-100 futures declined 0.1% and 0.5%, respectively.
It also noted that the previous week had been volatile as rising bond yields raised concerns about the economy, with the 30-year US Treasury yield reaching 5.3%, its highest level in nearly 20 years.
Focus is shifting to upcoming inflation signals, the outlet said, with investors awaiting the US July personal consumption expenditures report on Wednesday, while markets also weigh the prospect of new US sanctions targeting Iran and the potential knock-on effects for oil prices and inflation.
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