Global Markets:
● Asian Stock Markets : Nikkei up 0.02%, Shanghai Composite down 1.74% Hang Seng up 0.54% ASX up 0.30%
● Commodities : Gold at $4,231.90 (-2.06%) Silver at $62.500 (-3.56%), Brent Oil at 99.01 (1.60%), WTI Oil at 94.00 (1.71%)
● Rates : US 10-year yield at 5.209, UK 10-year yield at 5.3593, Germany 10-year yield at 3.6210
News & Data:
● (USD) Revised UoM Consumer Sentiment
48.1 to 47.4 expected
Markets Update:
U.S. stock futures fell early Monday after equities posted weekly gains, as rising oil prices and surging Treasury yields weighed on sentiment.
Dow Jones Industrial Average futures declined 180 points, or 0.4%, while S&P 500 futures slipped 0.4%. Nasdaq-100 futures fell 0.7%.
Oil prices rose more than 1% in early trading after President Donald Trump rejected conditions for a ceasefire proposed by Iran. Brent crude climbed to $105.86 a barrel, while West Texas Intermediate futures traded around $93.20.
The Dow gained 0.3% last week, ending a three-week losing streak. The S&P 500 and Nasdaq Composite advanced 1.2% and 2.1%, respectively, marking their strongest weekly performances since early August.
Technology stocks led the gains. Meta Platforms surged nearly 13% after traders welcomed its Muse artificial intelligence agent, while Microsoft rose more than 4%. Apple and Nvidia each gained more than 1%.
The gains came despite a sharp rise in Treasury yields. The benchmark 10-year Treasury yield reached its highest level since 2007, while the 30-year yield climbed to a level last seen in 2004. The two-year yield also jumped about 17 basis points.
Markets now await key U.S. economic data, including the August personal consumption expenditures price index on Wednesday and manufacturing data Thursday. The September jobs report is due Friday.
Upcoming Events:
● 1:30 PM GMT – EUR ECB President Lagarde Speaks
