US pre-open: Futures edge higher as traders shrug off rate‑hike nerves

(Sharecast News) - Wall Street futures were in the green ahead of the opening bell on Friday after a tech‑led rebound in the previous session helped give stocks a boost following the Federal Reserve's first rate hike in three years. As of 1230 BST, Dow Jones futures were up 0.11%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.19% and 0.42% firmer, respectively.

The Dow closed 316.14 points higher on Thursday, with markets bolstered by falling bond yields and oil prices, reclaiming some losses recorded in the previous session after the Federal Reserve suggested that it was likely to make at least one more rate hike before the end of the year.

Treasury yields were in focus early on Friday, with the yield on the ten‑year Treasury note up two and a half basis points at 4.962%, while the two‑year note was up nearly four basis points to 4.72% and the 30‑year advanced to 5.298%.

Oil prices, on the other hand, moved lower as markets weighed fresh cross‑border strikes between Saudi Arabia and Yemen's Houthi movement against signs that additional Saudi crude could reach global markets and help ease supply concerns. Brent crude futures were down 1.28% at $103.48 a barrel, while West Texas Intermediate futures dipped 0.38% to $101.52 a barrel. The renewed clashes added to worries that the widening Middle East conflict could further disrupt already strained energy supplies following February's US and Israeli strikes on Iran.

On the macro front, August industrial production and capacity utilisation figures will be published at 1415 BST.

No major corporate earnings were slated for release on Friday.





Reporting by Iain Gilbert at Sharecast.com