Stock Futures Rise, Treasury Yields Hold Near Highs as Oil Tops $101

By Joe Stonor

U.S. stock futures edged higher and oil moved further above $100 a barrel in early European trade, as investors position ahead of crucial U.S. inflation prints Thursday and Friday.

Brent crude rose 0.3% to $101.53 a barrel as hostilities between the U.S. and Iran continued to escalate. U.S. forces said they had destroyed 10 Iranian tankers over the past week. Iran is showing an increased appetite to escalate the conflict, The Wall Street Journal reported.

Treasurys weakened across the yield curve, with two-year Treasury yields edging higher to 4.447%. Increases in 10-year and 30-year yields were more pronounced as investor disappointment over the size of Treasury Secretary Scott Bessent's repurchase program continued. Ten-year yields hit 4.859%, while 30-year yields rose to 5.309%.

"If Scott Bessent thought this move would stabilize the U.S. bond market, he was wrong," XTB's Kathleen Brooks said.

The Treasury will auction $22 billion in 30-year bonds later Thursday.

Eurozone bond yields edged lower ahead of the European Central Bank's interest-rate decision later Thursday. Markets are near certain of a quarter-point raise, according to LSEG. Inflation concerns driven by higher energy prices are weighing on confidence in the continent's economy. European natural-gas prices are at their highest since the end of 2022.

In equity markets, futures for the Dow Jones Industrial Average rose 0.35%, while S&P 500 futures nudged up 0.2%. Nasdaq futures were flat as chip stocks weakened premarket, though hyperscaler stocks broadly strengthened.

Investors will look to earnings reports from Oracle and Adobe after the closing bell. Oracle will be watched for signals on the artificial-intelligence build-out, while Adobe will likely be viewed through the lens of software's resilience to insurgent AI.

European stock indexes were mixed after a difficult session Wednesday. The Europe-wide Stoxx 600 slipped 0.1% after closing at its lowest level since late July in the last session.

Equity markets in Asia were mixed, though Hong Kong listed stocks fell sharply. South Korea's Kospi was 0.25% lower, while the Hang Seng dropped 1.3%. Japan's Nikkei Stock Average climbed 0.2%.

The dollar softened, falling by 0.1% against a basket of global currencies. Bitcoin slipped 0.2% to $78,106.89, while New York gold contracts fell 0.1% to $4,455.10 a troy ounce.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

September 10, 2026 05:14 ET (09:14 GMT)