Futures Slide as Iran Talks, Oil, and Yields Weigh on Markets
U.S. stock index futures fell Thursday as prospects for a U.S.-Iran peace deal dimmed and oil prices surged, with Brent above $105 and WTI near $92.75. Treasury yields resumed climbing, with the 10-year near 5.35%, pressuring sentiment after major indexes pulled back from record highs. The day's calendar includes jobless claims, a 30-year Treasury auction, and earnings from companies such as PepsiCo and AngioDynamics.
Futures pointed lower, with Dow contracts off about 525 points, S&P 500 futures down roughly 48, and Nasdaq futures weaker by about 276. President Trump’s comments dampened hopes for a U.S.-Iran agreement, while crude jumped more than 5%; Brent traded above $105 and WTI around $92.75. The 10-year Treasury yield approached 5.35%, a level last seen in 2002.
On Wednesday, major indexes closed lower: the S&P 500 and Nasdaq retreated from record highs, and the S&P 500 and Dow ended five-session winning runs. Thursday’s schedule includes jobless claims, a 30-year Treasury auction, and Fed balance-sheet data, plus earnings from PepsiCo and AngioDynamics. Asian and European benchmarks also declined.
Higher oil and yields may feed through to gasoline, heating, and borrowing costs, affecting households, small businesses, and consumers with credit-card or auto debt. Retirees and savers could see mixed effects: bond yields may lift income, while stock portfolios face pressure. Geopolitical tension around Iran could keep energy prices volatile, potentially adding to inflation worries and shaping spending and investment decisions.