U.S. equity futures opened the new month without a clear direction, as stronger sentiment toward technology shares offset renewed pressure from the Treasury market. Micron’s results helped support Nasdaq-linked contracts, while elevated yields continued to weigh on broader risk appetite.
At 4:26 p.m. (Bangkok Time), Dow Jones Industrial Average futures declined 0.35%. S&P 500 futures edged up 0.16%, and Nasdaq-100 futures advanced 0.57%, reflecting firmer demand for large technology names.
Bond markets remained a central concern for investors. The 10-year U.S. Treasury yield reached as high as 5.3338% on Thursday, marking its highest level since 2002. The 30-year yield also moved above 5.6%, reaching a level last seen in 2002.
The futures moves followed a mixed regular session. The S&P 500 slipped 0.25%, while the Dow Jones Industrial Average fell 443.87 points, or 0.86%. The Nasdaq Composite finished higher, adding 0.24%.
Micron shares showed little movement after the chipmaker posted fiscal fourth quarter earnings above Wall Street forecasts and lifted its outlook for the first quarter.
September was uneven for equities. The S&P 500 fell 0.5% during the month as investors contended with rising oil prices and a sharp increase in Treasury yields, which fed concerns about the possibility of further interest rate increases. The Dow dropped 4.3%, while the Nasdaq gained 1.9%.
Market leadership has remained concentrated in technology shares tied to artificial intelligence, even as higher yields and oil prices have constrained other areas of the market. Nvidia rose 5% in September, and AMD climbed 30%.
Investors are entering the new month balancing signs of softer inflation against persistently high Treasury yields and uncertainty over the Federal Reserve’s next rate decision, due at the end of October. A new corporate earnings cycle is also coming into focus.
Nike is scheduled to report results after the close, giving investors an update on its turnaround efforts. The stock is trading at its lowest level since 2014, leaving Wall Street sentiment difficult to shift.
