{"id":73131,"date":"2023-10-16T07:46:08","date_gmt":"2023-10-16T11:46:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/sp-500-futures-up-cautiously-amid-mid-east-tensions-rising-treasury-yields\/"},"modified":"2023-10-16T07:46:11","modified_gmt":"2023-10-16T11:46:11","slug":"sp-500-futures-up-cautiously-amid-mid-east-tensions-rising-treasury-yields","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73131","title":{"rendered":"S&#038;P 500 futures up cautiously amid Mid-East tensions, rising Treasury yields"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002618213\" role=\"document\">\n<p>U.S. stock futures made cautious gains early Monday, amid anxiety over Middle East tensions and as Treasury yields moved higher.<\/p>\n<h2>How are stock-index futures trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"positive\">+0.26%<\/bg-quote><br \/>\n       rose 9 points, or 0.2% to 4365<\/p>\n<\/li>\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"positive\">+0.41%<\/bg-quote><br \/>\n       rose 103 points, or 0.3% to 33929<\/p>\n<\/li>\n<li>\n      Nasdaq 100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"positive\">+0.05%<\/bg-quote><br \/>\n       gained 15 points, or 0.1% to 15136<\/p>\n<\/li>\n<\/ul>\n<p>On Friday, the Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       rose 39 points, or 0.12%, to 33670, the S&amp;P 500<br \/>\n        SPX<br \/>\n       declined 22 points, or 0.5%, to 4328, and the Nasdaq Composite<br \/>\n        COMP<br \/>\n       dropped 167 points, or 1.23%, to 13407.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Middle East tensions, oil prices<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"negative\">-0.15%<\/bg-quote><br \/>\n       back above $90 a barrel, higher Treasury yields and wariness over the third quarter corporate earnings season see equity traders in tentative mood at the start of the week.<\/p>\n<p>\u201cWith the number of moving parts on the increase, investors are tending to err on the side of caution,\u201d said Richard Hunter, head of markets at Interactive Investor.<\/p>\n<p>Susannah Streeter, head of money and markets at Hargreaves Lansdown noted that the war between Israel and Hamas was just another geopolitical fracture that, alongside the Ukraine\/Russia war and continued tensions between the U.S. and China, could damage global economic growth.<\/p>\n<p>\u201cWarnings from JPMorgan Chase CEO, Jamie Dimon, that the world may be facing the most dangerous time in decades overshadowed the bank\u2019s buoyant earnings report on Friday,\u201d said Streeter.<\/p>\n<p>More of Wall Street\u2019s big banks will report results on Tuesday, with Bank of America<br \/>\n        BAC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200894270\/composite\" class=\"negative\">-0.52%<\/bg-quote><span>,<\/span><br \/>\n       Goldman Sachs<br \/>\n        GS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209237603\/composite\" class=\"negative\">-0.18%<\/bg-quote><br \/>\n       and BNY Mellon<br \/>\n        BK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200171276\/composite\" class=\"negative\">-0.17%<\/bg-quote><br \/>\n       stepping up to the plate. Big tech results will start with Netflix<br \/>\n        NFLX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202353025\/composite\" class=\"negative\">-1.53%<\/bg-quote><br \/>\n       and Tesla<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"negative\">-2.99%<\/bg-quote><br \/>\n       on Wednesday.<\/p>\n<p>U.S. economic updates set for release on Monday include the Empire State manufacturing survey for October, due at 8:30 a.m. Eastern.<\/p>\n<p>Philadelphia Fed President Patrick Harker is due to speak at 10:30 a.m. and again at 4:30 p.m.<\/p>\n<p>The benchmark 10-year Treasury yield<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       was up nearly 6 basis points to 4.685% as traders remain wary that recent sturdy U.S. economic data and signs of sticky inflation will keep interest rates higher for longer.<\/p>\n<p>Tom Lee, head of research at Fundstrat said it was understandable that investors are wary given the geopolitical environment, but he thinks equities will take supportive cues from three sources.<\/p>\n<p>\u201cFirst, the direction of yields and it seems like the US 10-year yield is drifting lower. Lower is constructive for stocks,\u201d said Lee in a note published over the weekend.<\/p>\n<p>The second factor is that expectations for a Fed rate hike is likely to fall from the current 30% to zero as fresh data comes in. \u201cWhile many fear a resurgence of inflation, Fedspeak shows that the rise in longer term yields is accomplishing the tightening the Fed wants,\u201d he said.<\/p>\n<p>The third point is that a positive third quarter earnings season is likely to cause a flood of buying by investment managers who, according to Goldman Sachs, are short $47 billion of U.S. equities. \u201cAs GS points out, there is an asymmetry and an upside tape will bring in buyers,\u201d said Lee.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-up-cautiously-amid-mid-east-tensions-rising-treasury-yields-cd463b2f?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock futures made cautious gains early Monday, amid anxiety over Middle East tensions and as Treasury yields moved higher. How are stock-index futures trading S&amp;P 500 futures ES00, +0.26% rose 9 points, or 0.2% to 4365 Dow Jones Industrial Average futures YM00, +0.41% rose 103 points, or 0.3% to 33929 Nasdaq 100 futures NQ00, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-73131","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P 500 futures up cautiously amid Mid-East tensions, rising Treasury yields | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock futures made cautious gains early Monday, amid anxiety over Middle East tensions and as Treasury 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