Stock Futures Rise as Treasury Yield Hits 24-Year High

Stock futures are rising ahead of the first trading session in October after September's losses for the S&P 500 and Dow. The Nasdaq managed to post a gain, while the Dow and S&P fell amid pressure from the bond market.

The 10-year Treasury yield hit its highest level since 2002 at 5.28%, sparking concerns over inflation and interest rates on loans. Worries about inflation have led to a recent bond sell-off as investors seek lower-risk assets in uncertain economic times.

Nike is set to report its quarterly results after the bell, with analysts expecting sales of $11.35 billion and earnings of 44 cents per share. The company's shares are trading at their lowest levels since early 2014 due to a sluggish sportswear market and concerns over sales recovery in China.

Google parent Alphabet saw its shares rise after unveiling a new AI model called Gemini 4 Argon, which excels at tasks like coding and reasoning. The company is working with the federal government on pre-release safety checks before rolling out the model publicly.