U.S. stock futures extended gains in early European trade, with the Dow and S&P 500 rising 0.3% and 0.1%, respectively. Nasdaq futures nudged higher after Magnificent Seven stocks drove the index to a record close. Nvidia extended gains, rising 0.5% after hours.
European stocks advanced, with the Stoxx 600 up 0.7%, while Asian markets were mixed; Japan's Nikkei 225 gained 1.05%, but Korea's Kospi slipped 0.9% due to memory-chip pullbacks. Ipek Ozkardeskaya of Swissquote noted the AI build-out helps shield companies from rising Treasury yields. Brent crude slipped 0.8% to around $99.50 a barrel, and WTI fell below $89 as Middle East exports increased.
Despite the dip, tensions remain elevated as Saudi and Yemeni forces launch a counteroffensive against Houthi militants in Mokha. Treasury yields remained elevated, with 10-year yields hovering near 5.290%, though two-year yields eased to 4.830%. Gold held steady near $4,160 an ounce, while bitcoin pulled back to around $85,400.
Investors await a $58 billion three-year Treasury auction and remarks from Fed policymakers for directional cues.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing