S&P 500 set to open near record highs as Treasury yields cool, oil slips
SPY•U.S. stock futures rose as the S&P 500 stood 0.6% below its record close, Treasury yields eased and oil prices fell almost 2%. Dow, S&P 500 and Nasdaq futures were up 0.52%, 0.41% and 0.52%, respectively.
1. Stocks near records
The S&P 500 was poised to open near record highs on Tuesday, with futures rising as Treasury yields eased from multi-year highs and oil prices slipped. The Nasdaq closed at a record on Monday, while the S&P 500 was about 0.6% below its all-time high at the close.
2. Rates and oil ease
The 30-year Treasury yield fell to 5.64% after reaching 5.702% a day earlier, its highest since 2002, and the 10-year yield also dipped. Oil prices fell almost 2% as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns.
3. Company and earnings news
AMD rose 1.6% after CEO Lisa Su said the company planned to substantially increase chip supply in 2027 to meet AI demand. Constellation Energy gained 8.6% after Google entered into a 3,590-megawatt power deal with the company. Third-quarter earnings season starts next week, with analysts expecting S&P 500 earnings to rise more than 30% year over year, largely on AI-related stocks.
