Bitcoin Boosts US Stock Futures Amid Yield-Driven Sell-Off
US stock futures rose on Friday as Wall Street attempted to recover from Thursday's yield-driven sell-off. The Dow Jones Industrial Average gained about 0.7%, while S&P 500 futures rose 0.5%. Nasdaq 100 futures advanced 0.8% before the opening bell.
Rising Treasury yields, higher oil prices, and tensions between Washington and Tehran continued to limit risk appetite. Meanwhile, Bitcoin headed for a weekly gain near 20%. The cryptocurrency briefly approached $80,000 and reached its highest level since late May.
Despite the early rebound, major indexes stayed on course for weekly losses. The S&P 500 lost 1.9% for the week, while the Nasdaq stood 2.5% lower and risked ending a three-week winning streak. The Dow Jones Industrial Average also faced a weekly decline of about 1.8%.