US pre-open: Futures mixed as Treasury yields dip, oil climbs on fresh Iran-US flare-up

(Sharecast News) - Wall Street futures were mixed ahead of the open on Thursday after major indices snapped a three‑day losing streak in the prior session, with easing Treasury yields offering some relief following renewed fighting between the US and Iran. As of 1230 BST, Dow Jones futures were up 0.05%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.07% and 0.20% lower, respectively.

The Dow closed 295.07 points higher on Wednesday as stocks rebounded slightly after recent losses sent markets to a four-week low.

As for Thursday's pre-market moves, yields moved lower across the curve as traders looked ahead to services and labour market data for further clues on the domestic outlook after a sharp global bond sell‑off. The benchmark 10‑year Treasury yield slipped half a basis point to 4.779%, while the 30‑year yield was slightly over half a basis point lower at 5.254%. The two‑year yield, which is more sensitive to Federal Reserve policy expectations, was more than one basis point lower at 4.375%.

Oil prices were also in focus as investors assessed the latest escalation in Middle East tensions, with Brent crude for November delivery up 1.97% at $97.51 a barrel, while West Texas Intermediate for October advaned 2.22% at $93.03 a barrel after Kuwait's army said it was confronting hostile missile and drone attacks from Iran, a day after Donald Trump remarked that renewed hostilities between Washington and Tehran would not last "too long".

On the macro front, US employers announced 52,881 job cuts in August, according to Challenger, Gray & Christmas, up from 33,429 in July but still 38.5% lower than a year earlier, marking the lowest August total since 2022. Consumer products led with 10,057 cuts, driven by reductions at Procter & Gamble and Estée Lauder, while food producers followed with 7,982 cuts, with Tyson accounting for nearly a third amid a historic cattle shortage. Year-to-date, technology remained the largest contributor with 155,126 cuts so far in 2026, followed by transportation with 42,279, health care and products with 35,637, consumer products with 28,574, and services with 26,778.

Still to come, weekly jobless claims numbers from the Labor Department will be released at 1330 BST, as will July goods and services trade balance figures and a reading of second quarter non-farm productivity data, while S&P Global's August composite and services purchasing managers indices were slated for release at 1445 BST, and the Institute for Supply Management's August services PMI will follow at 1500 BST.

In the corporate space, Victoria's Secret said second‑quarter net sales rose ten percent to $1.611bn, near the top end of its guidance, with operating income increasing to $257m and adjusted operating income of $124m coming in ahead of expectations, prompting the retailer to raise its full‑year 2026 net sales and adjusted operating income guidance, while Campbell's posted weaker fourth‑quarter and full‑year results, with sales, underlying earnings and adjusted earnings per share all coming in lower year-on-year, but raised its FY27 guidance, targeting $500m in cost savings by 2030 and resetting its dividend to speed up debt reduction.

Still to come, Lululemon Athletica and DocuSign were both scheduled to report earnings after the close.





Reporting by Iain Gilbert at Sharecast.com