S&P 500 futures edged up about 0.2% on Friday morning as investors weighed stubbornly high bond yields and softer consumer borrowing. A US 10-year Treasury yield near 4.6% keeps talk of another Federal Reserve rate hike alive, while Nasdaq futures slipped on wobbling big-tech names.
US S&P 500 contracts rose about 0.2% early Friday, even as the futures table showed the index off 0.18% at 7,574.75. Investors weighed stubbornly high bond yields against softer signs from consumer borrowing.
The US 10-year Treasury yield held near 4.6%, keeping mortgage, car-loan, and business borrowing costs high and sustaining talk of at least one more Federal Reserve rate hike. Because those costs stay elevated, rate-sensitive sectors such as banks and real estate move into focus.
Consumer borrowing, meanwhile, showed signs of cooling. US consumer credit slipped by about US$0.2b in May, hinting that households may be pulling back on new debt. The open question is whether higher costs slow spending enough to pressure consumer-focused companies.
Not every index pointed the same way. Nasdaq futures fell 0.52% to 29,782.50 as big-tech names wobbled. Dow futures added 0.04% to 52,782.00, a rare gainer among the majors. The VIX rose 1.52% to 16.08, and gold fell 0.84% to 4,106.00.
Single stocks moved sharply. Lumentum Holdings jumped 11.13% after CEO commentary on business trends, and Hewlett Packard Enterprise climbed 9.94% on plans to expand AI infrastructure. On the downside, Costco fell 4.21% after investors reacted to June sales details.
The calendar turns to fresh signals. Delta Air Lines reports Q2 results on Friday, with attention on demand and cost discipline, while the US Treasury's June Monthly Budget Statement and India's June inflation reading both land Monday.
Source: Yahoo Finance
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