U.S. Stock Futures Flat After S&P 500 Pulls Back from Record Amid Rising Yields
U.S. stock futures showed little movement after the S&P 500 retreated slightly from a record high, as Treasury yields hit multidecade highs. The 10-year yield reached 5.365%, and the 30-year yield climbed to 5.732%. Higher borrowing costs have weighed on investor sentiment for equities in recent weeks, particularly affecting sectors like industrials. Despite a pullback, market optimism remains due to expectations of strong earnings season performance. Analysts anticipate that the S&P 500 could report blended earnings growth of around 30% in Q3—marking three consecutive quarters above 25%. Investors are watching for upcoming results from companies like PepsiCo and weekly jobless claims data. Levi Strauss shares fell after it revised its revenue guidance downward but raised profit expectations. The broader market remains cautious, with the S&P 500 down slightly on Wednesday.
Topics: Dow Jones earnings season Nasdaq-100 S&P 500 Treasury yields