US Equity Futures Rise on Treasury Yields, Crude Prices
US equity futures rose on Friday as markets weighed elevated Treasury yields and volatile energy prices. The Dow Jones Industrial Average and S&P 500 contracts each gained 0.31%, while Nasdaq-100 futures climbed 0.61%. This follows a muted session on Thursday, when the S&P 500 and Nasdaq Composite ended little changed.
Treasury markets remain a concern for investors, with the 10-year yield reaching as high as 5.225% late Thursday, its strongest level since 2007. The 30-year yield jumped to 5.463%. Factors contributing to the rise in yields include policy remarks from Federal Reserve Governor Michael Barr, continued strength in energy prices linked to the Iran war, and a stronger-than-expected purchasing managers' report.
Crude prices eased slightly on Friday, with West Texas Intermediate futures declining 2.21% to $92 a barrel, while Brent contract slipped 1.61% to $104.88. Average U.S. gasoline prices moved close to $4.50, adding financial strain on households.