Oil and Treasury Yields Weigh on Futures Ahead of Data Week
Crude prices climbed and the 10-year yield reached a level last seen in 2007, ahead of jobs and inflation reports and Micron earnings.
U.S. stock futures fell as oil prices and Treasury yields climbed. Dow futures were down 288 points, Nasdaq futures lost 153 points and S&P 500 futures fell 26 points.
WTI crude rose more than 2.5% to $94 a barrel, while Brent reached $106. The 10-year Treasury yield stood at 5.21%, its highest level since 2007. The 30-year yield reached 5.53%.
The week’s economic reports begin Tuesday with August job openings data. September payroll figures follow, including private-sector employment data Wednesday and the government’s jobs report and unemployment rate Friday.
Investors are also due to get August personal consumption expenditures data, a measure of inflation. Expectations are for year-over-year headline inflation to ease to 3.6% and core inflation to 3.2%, down 10 basis points in each case.
Micron reports fiscal fourth-quarter results after Wednesday’s close. Zacks expects earnings growth of 937.95% and revenue growth of 349.48% from a year earlier.
This article was produced with the help of AI technology.
Source: Yahoo Finance
