U.S. stock futures rise as Treasury buyback plan meets 4.69% yield backdrop

U.S. stock futures edged higher early Friday as investors assessed a government plan to repurchase long-dated Treasuries against persistently elevated borrowing costs. At 5:29 a.m. EDT on August 21, Nasdaq 100 futures rose 0.46%, S&P 500 futures gained 0.30% and Dow Jones Industrial Average futures advanced 0.39%. The moves followed Thursday’s selloff, when the Dow fell 1.32%, the Nasdaq dropped 1.00% and the S&P 500 declined 0.87%, leaving the indexes down 1.8%, 2.5% and 1.9%, respectively, for the week. The 10-year Treasury yield was near 4.69%, while gold traded around $4,587.26 per ounce. Brent crude stood near $93.03 a barrel and WTI near $86.07 as the stalled U.S.-Iran conflict disrupted supplies and kept oil on track for a second straight weekly gain. Investors were also watching mostly weaker European markets, mixed Asia-Pacific trading and S&P Global manufacturing and services PMI data due later Friday.

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