US stock futures tick higher as tech steadies, though oil and yields stay high
SPY•US stock futures rose 0.1% for the Dow, 0.11% for the S&P 500 and 0.24% for the Nasdaq 100 as some technology shares steadied. Brent crude hovered near $105 a barrel, while the 10-year Treasury yield stayed near its highest level since 2007.
1. Futures edge higher
US stock index futures inched higher as chip-related shares recovered from Monday’s sector-wide selloff. Marvell Technology, Micron Technology and Broadcom each rose around 1% in premarket trading, while Nvidia gained 0.7%.
2. Oil and yields remain high
Brent crude hovered near $105 per barrel, and the 10-year Treasury yield remained near its highest level since 2007. Traders saw a 70% chance of another interest rate hike in October, and at least six Federal Reserve officials were scheduled to speak during the day.
3. AI and company movers
Anthropic’s IPO prospectus showed sharply higher growth over the past year alongside wider losses; the company is targeting a valuation above $2 trillion in a public offering. Summit Therapeutics rose 18.4% after AstraZeneca said it would invest $2 billion and collaborate on studies of their cancer treatments. PepsiCo dipped 0.8% after JPMorgan cut its rating to neutral.
