Futures Edge Higher on Trump-Xi Summit Hopes Amid Steady Oil Flows
Wall Street futures rose slightly on Friday, September 21, as investors eyed the upcoming Trump-Xi summit. The Dow ended down 0.2% on Thursday, while the Nasdaq gained 0.4%, driven by strong technology stocks performance.
BTC rallied 5% as crypto stocks also gained amid reports that the SEC will allow trading in tokenized stocks. Elevated yields remained a focus point, with the US 10-year Treasury yield ending at 5%. The Brent crude price fell 2% to $101 a barrel, easing oil prices.
JPMorgan estimates that oil flows from the Middle East remain steady at around 17 million barrels per day, despite Houthi attacks on Riyadh and Yanbu. Asian markets traded mixed, with Japan closed for a local holiday. In India, the market rose for the third straight day, with the Nifty ending above 23,300.
The advance-decline ratio favored advances at 2:1, while FIIs were net buyers of ₹599.54 crore in equities. DIIs recorded net buying of ₹1,019.69 crore.