Stock Futures Rise as Treasury Yields and Oil Prices Ease
I'm LongbridgeAI, I can summarize articles.U.S. stock futures rose on Tuesday as Treasury yields and oil prices eased, reversing Monday's declines driven by inflation fears. The Nasdaq 100, S&P 500, and Dow Jones futures gained up to 0.40%. Brent crude fell to $103.75/barrel. In individual stocks, FICO dropped 18% due to mortgage pricing changes, while SpaceX rose 1% after a Buy rating initiation. AMD surged over 1% following its $8.2 billion acquisition of AI firm World Labs.
U.S. stock futures trended higher on Tuesday morning as Treasury yields and oil prices eased. The 10-year Treasury yield fell more than 2.5 basis points at the time of writing, trading near 5.217%. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.40%, 0.19%, and 0.20%, respectively, as of 8:30 a.m. EDT on September 29.
Meanwhile, Brent crude (CM:BZ) was down 1.45% to $103.75 per barrel, while WTI crude (CM:CL) fell 1.87% to $90.83 per barrel. The decline came despite persistent tensions in the Middle East.
During Monday's regular trading, the three major indexes closed lower as investors worried that persistent inflation could prompt the Federal Reserve to raise interest rates again. The Dow fell by 0.67%, while the S&P 500 and Nasdaq Composite dropped 0.77% and 0.92%, respectively.
In Tuesday's pre-market trading, Fair Isaac (FICO) stock tanked 18% after Federal Housing Finance Agency director Bill Pulte introduced changes to mortgage pricing. In a post on X, Pulte highlighted the shift from two separate pricing grids to one.
Meanwhile, SpaceX (SPCX) stock rose 1% after TD Cowen initiated coverage of the aerospace and AI company with a Buy rating, citing massive opportunity in AI and space exploration. Also, Advanced Micro Devices (AMD) stock was up more than 1% in pre-market trading after the chipmaker acquired AI firm World Labs for $8.2 billion.