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Stock Futures Rise as Oil Prices, Rate Hike Bets Ease

Wall Street Journal Markets •
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U.S. stock futures rose in early European trade as easing oil prices and dovish Fed comments tempered rate-hike expectations. Brent crude fell 0.8% to $95.34 a barrel on signs Middle East exports are recovering toward prewar levels, pulling Treasury yields back from recent highs. The 30-year yield sits around 5.55%, while the 10-year held above 5.210%.

Two-year yields dropped after John Williams signaled a cautious stance, cutting the odds of an October hike to 57% from 70%, per LSEG data. Investors now await August PCE inflation data and further Fed speeches for direction. Dow futures led gains, up 0.5%, with S&P 500 and Nasdaq futures rising 0.3% and 0.2%.

Micron earnings after the close will test AI sentiment. Globally, Japan's Nikkei surged 3% and the Stoxx 600 added 0.7%. Bitcoin slipped to $83,400 while gold reclaimed $4,200 an ounce in New York.