Stock futures slip after winning week on Wall Street: Live updates
The Dow eked out a 0.3% advance last week, snapping a three-week slide.
TL;DR
- Stock futures opened lower on Monday after a week of gains, impacted by rising oil prices and Treasury yields reaching multiyear highs.
- The Dow, S&P 500, and Nasdaq Composite all saw gains last week, with U.S. tech stocks like Meta Platforms, Microsoft, Apple, and Nvidia leading the advance.
- Rising Treasury yields, with the 10-year note reaching a 2007 high and the 30-year bond a 2004 high, are attributed to increased bets on further Federal Reserve rate hikes due to persistent inflation.
- Oil prices increased, with Brent crude trading above $105 per barrel and WTI futures around $93, following President Trump's rejection of an Iranian ceasefire proposal.
- China reported its slowest monthly industrial profit growth in August, with a 4.2% increase year-on-year, impacting its CSI 300 index.
- Australian gold miner Northern Star Resources rejected a $27 billion takeover proposal from South Africa's Gold Fields.
- European stock markets were set for a mildly positive open, with investors monitoring French Senate election results.
- Companies reliant on debt, including those in the AI sector, face increased borrowing costs as bond yields climb.
- Institutional investors have remained resilient in the stock market, while retail traders appear to be moving to the sidelines.