US stock futures struggled for direction on Thursday morning as investors tracked rising bond yields, elevated oil prices, and ongoing conflict in the Middle East.
Futures on the Dow Jones Industrial Average edged up 0.2%, while S&P 500 futures were little changed. Nasdaq-100 futures dipped below the flat line, giving back some of the gains from Wednesday’s session.
The S&P 500 had snapped a three-day losing streak on Wednesday, helped by a rally in Nvidia shares. But that momentum faded quickly as bond yields crept higher again overnight.
The yield on the 10-year Treasury note rose 1 basis point to 4.79% in early trading. Higher yields tend to weigh on stocks, particularly tech and growth names, by raising the cost of borrowing and making bonds more attractive compared to equities.
West Texas Intermediate crude jumped 2.1% to $92.95 a barrel. Brent crude futures held above $97 a barrel, staying well above the $95 level that has kept inflation concerns alive.
Kathleen Brooks, research director at online brokerage XTB, said a real recovery in market sentiment would require energy prices to fall back to early summer levels.
She added that without a full stop to attacks from both sides in the Middle East, it is hard to see commodity prices or bonds stage any meaningful recovery. Central banks, she said, will stay cautious on inflation risks.
President Trump said the US carried out a “very heavy attack” against Iran on Wednesday but suggested the conflict would not last long. Markets are watching closely for any sign of a ceasefire.
On the earnings front, Broadcom shares slipped in pre-market trading even after the chipmaker reported results that beat Wall Street expectations. Snowflake fell more than 4%.
Broadcom $AVGO posted 221% AI chip growth and raised its outlook, stock still drops. A small guidance miss is doing all the damage 👀https://t.co/WkggdKULQp
— CoinCentral (@realcoincentral) September 3, 2026
Lululemon Athletica and DocuSign are scheduled to report quarterly results after the closing bell on Thursday.
Outplacement firm Challenger, Gray and Christmas reported a slower pace of layoff announcements in August. The data pointed to what analysts are calling a “low hire, low fire” labor market.
Weekly unemployment claims figures from the Bureau of Labor Statistics were also due Thursday morning. Both reports are being watched as a warm-up for Friday’s monthly jobs report.
The jobs report is seen as a key piece of data for the Federal Reserve as it weighs its next move on interest rates.
Markets remain sensitive to any data that could shift expectations around rate cuts. With oil elevated and yields rising, the path forward for stocks remains uncertain heading into the weekend.
The post Pre-Market Update: Dow, S&P 500 and Nasdaq Futures Waver as Oil Prices and Treasury Yields Climb appeared first on CoinCentral.
