Wall St futures gain as AI enthusiasm eases worries over higher oil prices, yields
SPY•U.S. stock futures rose, with Nasdaq 100 futures up 0.61%, as AI optimism offset concerns over oil above $100 a barrel and a 10-year Treasury yield of 5.1%. Traders saw a 71% chance of a Federal Reserve rate hike of at least 25 basis points in October.
1. Futures rise
U.S. stock index futures rose on Friday. At 5:15 a.m. ET, Dow and S&P 500 futures were each up 0.31%, while Nasdaq 100 futures gained 0.61%.
2. AI shares lead
Advanced Micro Devices, Marvell, Cerebras and Intel each rose about 2% in premarket trading. Akamai Technologies surged 21% after signing an $11.6 billion cloud services deal with Anthropic. Meta was trading flat premarket, with its shares set for a fifth consecutive weekly gain.
3. Oil and rates weigh
Brent crude remained above $100 a barrel, while the 10-year Treasury yield stood at 5.1% amid inflation concerns. Traders saw a 71% chance of a Federal Reserve rate hike of at least 25 basis points in October, up from around 50% earlier in the week. August durable-goods data was due at 8:30 a.m. ET.
