{"id":74767,"date":"2023-10-20T06:55:35","date_gmt":"2023-10-20T10:55:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/sp-500-futures-slip-as-a-week-of-soaring-bond-yields-geopolitics-take-a-toll\/"},"modified":"2023-10-20T06:55:38","modified_gmt":"2023-10-20T10:55:38","slug":"sp-500-futures-slip-as-a-week-of-soaring-bond-yields-geopolitics-take-a-toll","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=74767","title":{"rendered":"S&#038;P 500 futures slip as a week of soaring bond yields, geopolitics take a toll"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002639755\" role=\"document\">\n<p>U.S. stock futures pointed to a struggle for Wall Street on Friday, as rising bond yields and geopolitical tensions continue to take a toll on investors, who were digesting comments from Federal Reserve Chairman Jerome Powell.<\/p>\n<h2>What\u2019s happening<\/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=\"negative\">-0.28%<\/bg-quote><br \/>\n       fell 10.25 points, or 0.2%, to 4,293<\/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=\"negative\">-0.26%<\/bg-quote><br \/>\n       dropped 67 points, or 0.2% to 33,481<\/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=\"negative\">-0.38%<\/bg-quote><br \/>\n       fell 45 points, or 0.3%, to 14,846<\/p>\n<\/li>\n<\/ul>\n<p>On Thursday, the Dow Jones Industrial Average\u00a0<br \/>\n        DJIA<br \/>\n       finished 250.91 points, or 0.7% lower, at 33,414.17. The S&amp;P 500\u00a0<br \/>\n        SPX<br \/>\n      \u00a0fell 36.60 points, or 0.8%, to end at 4,278, and the Nasdaq Composite\u00a0<br \/>\n        COMP<br \/>\n       lost 128.12 points, or 1%, at 13,186.17.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Major indexes were poised for weekly losses as the 10-year Treasury yield came within less than a basis point of the psychological key 5% level on Thursday.<\/p>\n<p>The yield on the 10-year note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       was down 4 basis points at 4.944% on Friday, but has surged 31 basis points this week, from 4.616% on Monday.<\/p>\n<p><strong>Read:<\/strong> Why stock-market investors are fixated on 5% as 10-year Treasury yield nears key threshold<\/p>\n<p>Speaking in New York on Thursday, Powell gave a cautious outlook, but didn\u2019t close the door on further interest rate increases. He also said that higher Treasury yields could be helping the Fed fight inflation, given they were helping to tighten financial conditions.<\/p>\n<p>\u201cThe [bond] selloff could be explained by strong retail sales data \u2013 that followed a strong [nonfarm payroll] read and a stronger-than-expected inflation data since the month started \u2013 which both fueled the hawkish Fed expectations,\u201d said Ipek Ozkardeskaya, senior analyst at Swissquote Bank, in a note to clients. <\/p>\n<p>Cleveland Fed President Loretta Mester at 12:15 p.m. is the last scheduled speaker before the blackout period in advance of the Nov. 1 rate decision.  <\/p>\n<p>On the corporate earnings front, American Express<br \/>\n        AXP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203805826\/composite\" class=\"negative\">-1.26%<\/bg-quote><br \/>\n       will report ahead of the open, with next week bringing big tech names such as Alphabet<br \/>\n        GOOGL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202490156\/lastsale\" class=\"negative\">-0.15%<\/bg-quote><span>,<\/span><br \/>\n       Microsoft<br \/>\n        MSFT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207732364\/composite\" class=\"positive\">+0.37%<\/bg-quote><br \/>\n       and Amazon.com<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"positive\">+0.21%<\/bg-quote><span>.<\/span>\n       <\/p>\n<p>The near two-week war between Israel and Hamas has also weighed on investors, with oil prices up again Friday, with investors wary of further escalation via a possible ground invasion by the Israeli military. Palestinians in Gaza reported heavy strikes in the southern region, where they had been told to evacuate, with a large Israeli town in the north near the Lebanese border also evacuating. <\/p>\n<p>West Texas Intermediate crude<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"positive\">+1.38%<\/bg-quote><br \/>\n       rose 1% to $89.39 a barrel, with gold<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"positive\">+0.75%<\/bg-quote><br \/>\n       climbing $12.80 to $1,993.30 an ounce.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-steady-as-a-week-of-soaring-bond-yields-geopolitics-take-a-toll-84feadf0?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock futures pointed to a struggle for Wall Street on Friday, as rising bond yields and geopolitical tensions continue to take a toll on investors, who were digesting comments from Federal Reserve Chairman Jerome Powell. What\u2019s happening S&amp;P 500 futures ES00, -0.28% fell 10.25 points, or 0.2%, to 4,293 Dow Jones Industrial Average futures [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":74768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-74767","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 slip as a week of soaring bond yields, geopolitics take a toll | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock futures pointed to a struggle for Wall Street on Friday, as rising bond yields and geopolitical tensions continue to take a toll on investors,\" \/>\n<meta name=\"robots\" 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