Stocks Futures Steady as Bond Selloff Extends, Oil Prices Rise

Dow Jones2026/10/07 08:41

By Joe Stonor Nasdaq and S&P 500 futures were little moved in early European trade after the indexes surged to records in the last session, as still-higher Treasury yields and a fresh jump in oil prices failed to knock U.S. stock market exuberance. The "Magnificent Seven"--the mega-cap companies Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta and Tesla--continued to strengthen in premarket trade after powering indexes to new records. Gains were limited elsewhere, however, as futures for the Dow Jones Industrial Average futures dropped 0.2%. Futures for the S&P 500 were flat, while Nasdaq futures edged 0.1% lower amid weakness for some chip makers. "The breadth of the rally has narrowed," said UBS Wealth Management Chief Investment Officer Mark Haefele. "The increasing concentration of market gains reinforces the importance of managing risk." Brent crude oil prices rose 0.6% to $101.20 a barrel while WTI prices neared $90 after Houthi militants attacked Saudi airports. Conflict in the Arabian peninsula is escalating after Saudi-backed forces launched a counteroffensive to retake territory along the Red Sea. Treasury yields rose in tandem with oil prices. Ten-year yields added 3.6 basis points to 5.307%, while 30-year yields jumped 4.3 basis points to 5.683%. Higher yields and oil prices dragged the market mood in Asia and Europe. The Korean Kospi slipped 2%, while Hong Kong's Hang Seng Index fell 0.6%. Japan's Nikkei 225 fell 0.9%. In Europe, AI-linked stocks slid as the continent-wide Stoxx 600 fell 0.55%. French government bonds came under renewed pressure as budget talks remain in focus. Ten-year French OAT yield increased 5.4 basis points to 4.806% compared with a 2.2-basis-point rise for 10-year Bund yields. The dollar continued to strengthen as oil prices rose, prompting a fall in bitcoin and gold prices. Bitcoin fell close to $84,100, while New York gold contracts fell 0.7% to $4,159 a troy ounce. For the day ahead, the Federal Reserve will publish minutes from its September policy meeting, adding color to

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By Joe Stonor

Nasdaq and S&P 500 futures were little moved in early European trade after the indexes surged to records in the last session, as still-higher Treasury yields and a fresh jump in oil prices failed to knock U.S. stock market exuberance.

The "Magnificent Seven"--the mega-cap companies Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta and Tesla--continued to strengthen in premarket trade after powering indexes to new records. Gains were limited elsewhere, however, as futures for the Dow Jones Industrial Average futures dropped 0.2%. Futures for the S&P 500 were flat, while Nasdaq futures edged 0.1% lower amid weakness for some chip makers.

"The breadth of the rally has narrowed," said UBS Wealth Management Chief Investment Officer Mark Haefele. "The increasing concentration of market gains reinforces the importance of managing risk."

Brent crude oil prices rose 0.6% to $101.20 a barrel while WTI prices neared $90 after Houthi militants attacked Saudi airports. Conflict in the Arabian peninsula is escalating after Saudi-backed forces launched a counteroffensive to retake territory along the Red Sea.

Treasury yields rose in tandem with oil prices. Ten-year yields added 3.6 basis points to 5.307%, while 30-year yields jumped 4.3 basis points to 5.683%.

Higher yields and oil prices dragged the market mood in Asia and Europe. The Korean Kospi slipped 2%, while Hong Kong's Hang Seng Index fell 0.6%. Japan's Nikkei 225 fell 0.9%. In Europe, AI-linked stocks slid as the continent-wide Stoxx 600 fell 0.55%.

French government bonds came under renewed pressure as budget talks remain in focus. Ten-year French OAT yield increased 5.4 basis points to 4.806% compared with a 2.2-basis-point rise for 10-year Bund yields.

The dollar continued to strengthen as oil prices rose, prompting a fall in bitcoin and gold prices. Bitcoin fell close to $84,100, while New York gold contracts fell 0.7% to $4,159 a troy ounce.

For the day ahead, the Federal Reserve will publish minutes from its September policy meeting, adding color to policymakers' economic outlook.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

October 07, 2026 04:41 ET (08:41 GMT)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Updated to market close Firmus, backed by Nvidia, cancels $5 billion IPO plan; tech stocks see their biggest weekly gain in a week; Benchmark index posts gains for the second consecutive week Jasmeen Ara Islam Shaikh, Reuters, October 9 – Australian stocks rose on Friday as bargain hunters bought shares after a recent benchmark pullback; at the same time, Firmus’s decision to shelve its $5 billion IPO plan triggered an inflow of funds into local software stocks. The benchmark S&P/ASX 200 .AXJO rose 0.6% on Friday to close at 8,716.6 points after two consecutive days of declines. For the week, the index rose 0.4%, posting gains for a second straight week. Globally, comments from US President Trump that the US would pause strikes against Iran ahead of the November midterm elections provided a slight lift to market sentiment. Domestically in Australia, markets are closely watching September quarter inflation data to be released later this month, as well as awaiting the Reserve Bank of Australia’s last two policy meetings of the year in November and December. On the day, tech stocks .AXIJ jumped as much as 3.1% after data center operator Firmus, backed by Nvidia NVDA.O, called off its IPO due to lukewarm market response. Maas Group MGH.AX, a 3.2% shareholder in Firmus, resumed trading after a morning halt and saw its shares plunge as much as 10.7%. David Tuckwell, Chief Investment Officer at ETF Shares, said Firmus’s withdrawal was positive for local tech stocks as it kept fund managers’ money in existing listed shares and avoided forced rebalancing for index funds. He added that after extended selling, valuations in the sector were oversold and now operating on their own momentum. However, weak demand for Firmus indicated that investors preferred enterprises with solid performance, rather than shunning tech stocks entirely. WiseTech Global WTC.AX, Xero XRO.AX, and Life360 360.AX rose 4.2%, 3.5%, and 4.1% respectively. As gold prices edged up, gold miners .AXGD gained 1.9%, the sector's biggest gain in more than two weeks. GOL/ Weighed down by softer iron ore and copper prices, the overall mining index dipped 0.2%. IRONORE/ MET/L Financial stocks .AXFJ rebounded 0.5% after declines over the previous two sessions. Energy stocks .AXEJ edged higher by 0.2%, marking four straight gains despite weaker early oil prices. O/R Across the Tasman Sea, New Zealand’s S&P/NZX 50 index .NZ50 closed up 0.4% at 13,749.35 points. (For the convenience of non-English speakers, Reuters automatically translates its reports into several languages. Due to possible errors or omitted context in automated translations, Reuters does not guarantee the accuracy of such texts and provides them solely for reader convenience. Reuters accepts no liability for any damages or losses resulting from the use of automated translation features.) For more on "Schedules & Data": US earnings calendar RESF/US, Wall Street outlook for the week .N/O, Global economic outlook DATA/ ... See all the latest market headlines and breaking news at NEWS1.

路透社•2026/10/09 05:56