Wall St futures rise as Treasury yields cool, oil slips
SPY•U.S. stock futures rose, with Dow futures up 0.55%, S&P 500 futures up 0.39% and Nasdaq 100 futures up 0.61%, as Treasury yields and oil prices fell. The S&P 500 closed about 0.6% below its record high.
1. Futures climb
U.S. stock index futures rose as Treasury yields fell from multi-year highs and oil prices slipped ahead of the quarterly earnings season. The 30-year Treasury yield fell to 5.62% after touching 5.702% a day earlier, while the 10-year yield also dipped.
2. Rate expectations
A softer-than-expected payrolls report eased expectations for rate hikes this year. Traders saw a 78% chance the Federal Reserve would hold rates steady this month, while a December rate hike remained largely priced in.
3. Company movers
Nvidia rose 0.9% in premarket trading, and AMD gained 1.9% after CEO Lisa Su said the company planned to substantially increase chip supply in 2027. Constellation Energy gained 6.4% after Google entered a 3,590-megawatt power deal with the company. Option Care Health jumped 21% after reports that McKesson and Clayton Dubilier & Rice were nearing a deal to buy it for nearly $5 billion.
