Stock futures flat after soaring Treasury yields trigger market sell-off: Live updates
The major averages tumbled in Wednesday's regular trading as a spike in Treasury yields raised the specter of additional rate hikes from the Federal Reserve.
TL;DR
- Stock futures were flat Thursday after a market sell-off triggered by surging Treasury yields.
- The benchmark 10-year Treasury note yield reached its highest level since July 2007, increasing market anticipation of Federal Reserve rate hikes.
- The U.S. and China extended a trade truce for two months.
- SoftBank Group shares jumped over 7% following an $11.1 billion bond issuance to fund its investment in OpenAI.
- Japanese 10-year government bond yields hit a 30-year high, tracking the surge in U.S. Treasury yields.
- Oil prices fluctuated, with Brent crude futures rising and then falling as Asia's crude oil imports were reported to be at their highest since the start of the Iran war.
- Asia-Pacific markets traded mixed, with investors monitoring U.S.-China trade relations and geopolitical tensions.
- Costco and BlackBerry are set to report quarterly earnings.