U.S. stock futures were pointing to gains at the market open on Thursday, as traders welcome lower bond yields while coming to terms with tariff threats and the latest Big Tech earnings.
Dow Jones Industrial Average futures were rising 122 points, or 0.3%. S&P 500 futures were also climbing 0.3% and Nasdaq 100 futures were gaining 0.2%.
The technology sector will be in focus after mixed earnings, which led to Google-parent Alphabet and ride-hailing platform Uber Technologies both sliding more than 7% on Wednesday. Amazon.com is scheduled to report fourth-quarter earnings after the stock market closes Thursday.
“Three-quarters of companies [that have reported earnings] have beat estimates, in line with the average from the last five years, though the degree of beat at 5% is below the long-term trend of 9%. The most consistent trend is the surge in corporate sentiment on hopes for tax and regulatory relief,” noted Mark Hackett, chief market strategist at Nationwide.
The yield on the benchmark 10-year Treasury note stood at 4.438% early Thursday, ticking up from the previous day, when it broke below 4.5%. That came after Treasury Secretary Scott Bessent reiterated the existing long-term debt sale plan and said the Trump administration is minded to inject downward pressure on the 10-year Treasury yield rather than calling for the Federal Reserve to cut rates.
“There is not huge room to the downside for the 10yr yield. An effective floor is in place at just under 4%… That floor can of course shift lower, but would need a better reason than an approaching 10yr rate,” ING analyst Padhraic Garvey wrote in a research note.
