Stock futures are little changed after S&P 500 posts third straight losing day: Live updates
The stock market reaction was relatively muted, even with long-term bond yields reaching multi-decade highs.
TL;DR
- US stock futures were near flat after major averages fell for a third straight session.
- Global bond yields reached multi-decade highs, with the 30-year Treasury yield hitting a 19-year high.
- Asian markets, including South Korea, Japan, and China, experienced significant declines.
- Tech stocks dropped globally amid rising bond yields.
- Investors are awaiting the Federal Open Market Committee meeting minutes for insights into central bank divisions.
- UK annual consumer price inflation rose to 2.9% in July, driven by higher gas and electricity prices.
- Oil prices edged higher amid conflicting signals regarding the Strait of Hormuz.
- Unitree Robotics surged significantly in its Shanghai trading debut.
- Samsung Electronics announced a $158 million investment in an HVAC production line in South Korea.
- Treasury yields continue to climb, exacerbating the impact of the national debt load.