US Stock Futures Drop as Bond Yields Rise Amid Oil Price Surge
Macro·1 article across 1 outlet
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
US stock futures erased early gains of up to 0.7% driven by optimism from Micron Technology Inc. The decline followed a renewed rise in oil prices, which deepened a selloff in government bonds, pushing yields to fresh highs.
The upbeat forecast from Micron initially buoyed the market, but the impact was overshadowed by the bond market's reaction to rising oil prices, indicating investor concerns about inflation and economic stability.
Micron
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“US stock futures wiped out early gains driven by the artificial-intelligence trade after a renewed rise in oil deepened a selloff in bonds.”
Bloomberg — Investors Are Driving Government Bond Yields Higher