Stock futures rise ahead of Federal Reserve minutes release
U.S. stock futures are trading higher on Tuesday, with investors keeping a close eye on Treasury yields and awaiting the release of the Federal Reserve's latest meeting minutes. The S&P 500 futures are up 0.07% to 7,831.50 points, building on gains from the previous session when the spot index hit new highs. Dow futures have also risen by 0.12%, while Nasdaq futures are up 0.08%, maintaining the technology sector near recent record levels.
Meanwhile, the Russell 2000 futures, which track smaller-cap companies, are down slightly by 0.03%. In the fixed-income market, the 10-year Treasury yield has climbed to 5.31%, despite reduced expectations of another Federal Reserve interest-rate hike this month. Weaker labor market data has contributed to this shift in sentiment.
The Federal Reserve's September meeting minutes, set for release on Wednesday, October 7, could provide further insights into officials' discussions on inflation, the labor market, and future monetary policy. On Monday, U.S. stock markets closed higher, with the S&P 500 up 0.7%, the Nasdaq advancing 1.1% to a new closing record, and the Dow Jones gaining 0.2%. Nvidia was a standout performer, supporting the Nasdaq's rise and boosting Asian markets on Tuesday.
Other assets under watch include gold, currently at US$4,157.40, and Brent crude for November, trading at US$89.58. Bitcoin has seen selling pressure, pulling back from US$87,000 to US$85,651.39. The VIX index, a measure of market volatility, has risen slightly to 15.52 points, reflecting moderate risk perception ahead of upcoming economic events.