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US futures edge lower under sustained pressure from bond markets
Investors are watching Fed minutes and earnings as the 10-year Treasury yield stays near 5.3% and Brent crude tops $100 a barrel.
- U.S. futures retreated Wednesday as sustained bond market pressure weighed on equities after oil prices climbed back above $100 per barrel, with S&P 500 futures dipping 0.1% from a record close.
- Treasury yields have surged to more than 20-year highs in recent weeks, driven by inflation concerns and the Federal Reserve's interest-rate trajectory, with the 10-year yield rising to 5.33% and the 30-year climbing to 5.71%.
- Elevated yields threaten artificial intelligence stocks by raising borrowing costs, as high bond yields make it more expensive for companies to borrow and undercut prices for growth investments.
- Micron Technology shares fell more than 3% and Advanced Micro Devices declined nearly 2% before the opening bell, with Nasdaq-100 futures slipping more than 0.1% pointing to a cautious start for technology stocks.
- The Federal Reserve will release September meeting minutes later this week when the central bank raised rates for the first time in three years, while analysts project nearly 30% earnings growth for S&P 500 companies with PepsiCo reporting Thursday and Delta Air Lines Friday.
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Morning Bid: Wall Street winces at bond squeeze
By Mike Dolan Oct 8 (Reuters) - Stock markets finally stalled on Wednesday and early Thursday as the bond crunch ground on, with the latest Federal Reserve minutes showing most policymakers in September saw more interest rate rises ahead. Markets have ...
The relief in the French debt Yields, which fell by about 10 basis points to close to 4.75%, helped to calm the nerves after the budgetary concerns in France and the convening of early elections in Spain. The German industrial production data of August and the French trade balance will be the main indicators of the day on the continent.
·Lisboa, Portugal
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Coverage Details
Total News Sources25
Leaning Left4Leaning Right4Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 24%
C 53%
R 23%
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