Futures mixed as oil, Treasury yields and Iran war concerns weigh on markets

U.S. stock futures were mixed as higher oil prices, the highest 10-year and 30-year Treasury yields since 2007 and concerns that the war in Iran could become another Middle East quagmire continued to pressure markets. All major indexes fell Tuesday: the Nasdaq dropped 1.33% to 26,289, the Russell 2000 declined 1.30% to 3,017, the S&P 500 slipped 0.69% to 7,691 and the Dow Jones Industrial Average eased 0.22% to 53,343. Buyers returned to Treasury markets, pushing yields lower across the curve; the 30-year bond closed at 5.28% and the benchmark 10-year note last traded at 4.70%. Brent crude rose 0.33% to $98.20, West Texas Intermediate gained 0.93% to $85.22 and natural gas advanced 3.75% to $2.79. Gold fell 1.87% to $4,333 and silver dropped 3.74% to $63.21. Bitcoin traded between $64,000 and $64,700 after briefly topping $65,000, while Ethereum held near $1,910; at 8 AM EDT, they were quoted at $64,435 and $1,921, respectively. Wall Street analyst actions listed for Wednesday included upgrades for Ciena, Dollar Tree, Dominion, Fabrinet and Honeywell Aerospace; downgrades for Baidu, CME Group, Core Natural Resources, Klarna Group and Pershing Square; and new or reinstated coverage for Aflac, BioMarin Pharmaceuticals, Cardinal Health, Hut 8 and Zoom Communications. No single analyst report should be the sole basis for buying or selling a stock.

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