A trader works on the floor of the New York Stock Exchange (NYSE) in New York, the United States, September 16, 2026.
Jeenah Moon | Reuters
Stock futures fell slightly late Sunday after a winning week despite Treasury yields rising to multi-year highs.
Dow Jones Industrial Average Futures fell by 97 points, or 0.2%. S&P 500 Futures Contracts lost 0.2% with Nasdaq-100 Futures Contracts.
Rising oil prices weighed on stock futures early in the session. Brent crude is trading up more than 1% at $105.86 per barrel. West Texas Intermediate futures also gained about 1% to $93.20, after President Donald Trump rejected terms for a ceasefire presented by Iran.
The Dow Jones rose 0.3% last week, ending a three-week decline. The S&P 500 and Nasdaq Composite posted their best weekly performances since early August, rising 1.2% and 2.1%, respectively.
Tech-related stocks led the way last week. Metaplatforms rose nearly 13% during that period, as traders cheered the company’s Muse artificial intelligence agent. Microsoft climbed more than 4%, while Apple and Nvidia rose more than 1% each.
The gains came even as Treasury yields rose to highs not seen in years, with traders increasingly betting on further rate hikes from the Federal Reserve due to persistent inflation. The benchmark 10-year Treasury yield rose to a level not seen since 2007. The 30-year bond yield peaked in 2004. The 2-year bond yield also jumped about 17 basis points last week.
“The rapid rise in 2-year government bond yields around the world indicates that major central banks need to further raise their policy rates in response to the inflationary impact of the sustained rise in oil prices resulting from the recent escalation of war in the Middle East,” wrote Ed Yardeni, president of Yardeni Research. “Unfortunately, these higher rates also exacerbate the prospects of large public deficits around the world.”
Rates will be in focus again this week, with a host of key economic data available. The August Personal Consumption Expenditures Price Index, the Fed’s preferred inflation gauge, is scheduled to be released Wednesday. New figures on the US manufacturing industry are due on Thursday, while the closely watched September jobs report is due out on Friday.
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