U.S. equity futures were little changed Thursday evening as Treasury yields continued their climb. S&P 500 futures were down 0.1%, and Nasdaq-100 futures were also off 0.1%. Futures tied to the Dow Jones Industrial Average fell 59 points, or 0.1%. In Thursday's regular trading, the S&P 500 and Nasdaq Composite both finished flat. In Asia-Pacific, Japan's Nikkei 225 added 0.25% while the Topix rose 0.40%. Australia's benchmark S&P/ASX 200 was 0.48% lower. Markets in mainland China and South Korea are closed for a holiday. Hong Kong's Hang Seng index was 1.46% lower. The drama continued in the bond market, where the 10-year Treasury yield climbed to 5.225% late Thursday, the highest level since 2007, while the 30-year yield reached 5.502%. This week's ascent in yields was fueled by hawkish comments from Federal Reserve Governor Michael Barr, persistently high energy prices due to the Iran war, and a hot purchasing managers' report. Fed funds futures trading suggests a roughly 68% likelihood of a rate hike in October, according to the CME FedWatch tool . The 30-year fixed rate mortgage , which tracks the 10-year note, rose to 7.45%, the highest level since 2024, as borrowing costs for consumers looked poised to increase ahead of the midterm elections. "Even before the moves of the past few days, the declines in credit card [annual percentage rates] and auto loan rates that occurred from mid- 2024 through the start of 2026 had stalled, and mortgage rates reaccelerated," Heather Berger, economist at Morgan Stanley, wrote in a note to clients. "We expect these pressures to weigh on spending, largely through goods, which is contributing to the 40 [basis point] deceleration in real consumption growth we expect next year," she added. The Dow is heading for a fourth consecutive losing week, down 0.6% in the period. The S&P 500 is on track for a 0.7% advance, while the Nasdaq is up 1.6% week to date. Going into Friday, traders will be eyeing the University of Michigan consumer sentiment report and durable goods data. Hong Kong's Hang Seng index open 1.46% lower, amid mixed trading in other Asian markets. The declines in Hang Seng were led by financials, basic materials and tech sectors, down 1.11%, 1.04% and 1.03%, respectively. Mainland China's markets are closed for a holiday. Asia-Pacific markets traded mixed early Friday, as traders keep watch on developments in the Trump-Xi meeting and in the Middle East, while assessing the impact of the global bond selloff. Japan's Nikkei 225 added 0.25% while the Topix rose 0.40%. Australia's benchmark S&P/ASX 200 was 0.48% lower. Markets in China and South Korea are closed for a holiday. Asia-Pacific markets were set to open mixed on Friday, as investors continue to assess the impact of the global bond selloff, while keeping watch on developments in the Trump-Xi meeting and in the Middle East. Japan's Nikkei 225 was poised to rise slightly, with the Chicago futures contract at 65,585 and its Osaka counterpart last trading at 65,490, compared with the index's...
🔥 EXCLUSIVE PARTNER OFFER
Ryanair Backpack 40x30x20 Cabin Bag Travel Backpack for Men Women Hand Luggage Leisure Laptop Backpack mochila para viaje cabina
Special Price
🎯 Best price guarantee! Order now and enjoy fast shipping with global tracking.
Affiliate link — Commission earned at no extra cost to you
© EcoNews DZ — Global Economic & Financial News
Comments
Post a Comment