U.S. stock futures mixed as Treasury yields rise and markets weigh Fed outlook

  • U.S. stock futures signaled a mixed Thursday open after Wednesday’s uneven session.
  • 10-year Treasury yields reached 5.33%, while markets priced a 39.3% October Fed hike probability.
  • Iran received a U.S. response as final U.S. troops withdrew from neighboring Iraq.

U.S. stock futures pointed to a mixed open Thursday after a mixed session, with Dow Jones and S&P 500 futures lower and Nasdaq 100 futures higher. The 10-year Treasury yield stood at 5.33% and the two-year yield at 4.91%, while CME Group’s FedWatch tool showed a 39.3% probability of a Federal Reserve interest-rate hike after its October meeting. Iran said it had received a U.S. response to a proposal to restore the collapsed Gulf ceasefire as the final U.S. troops completed their withdrawal from neighboring Iraq, Reuters reported. Iranian-backed militias described the exit, 23 years after the initial invasion, as a major regional victory. Premarket, SPY fell 0.059% to $762.18 and QQQ rose 0.26% to $741.72. Vicor surged 12.2%, Synopsys gained 2.46%, Constellation Energy rose 2.94%, Micron edged up 0.037%, and Nike fell 0.40%. Micron reported fourth-quarter revenue of $54.23 billion and adjusted earnings of $33.42 per share, exceeding estimates of $50.75 billion and $31.45 per share. Synopsys forecast fiscal 2027 adjusted earnings of $19.04 to $19.12 per share, above the $17.32 estimate. Constellation announced a 20-year power purchase agreement with Amazon that will add 190 megawatts of nuclear capacity at Calvert Cliffs in Maryland. Analysts will focus on jobless claims, September manufacturing PMI data and August construction spending. Market strategist Craig Shapiro said five of six conditions preceding the 1987 crash are active, while assigning a 40% probability to continued equity repricing and 20% to correlated deleveraging with a dollar reversal. Oil, gold and Bitcoin rose, while the dollar and European markets declined.

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