Dow Extends Win Streak; Stock Futures Hold Steady
U.S. stock futures remained stable on Friday, following the Dow Jones Industrial Average’s record seventh consecutive gain, marking its longest rally since December. Dow futures edged up by 44 points, while both S&P 500 and Nasdaq futures saw modest increases. Investor optimism has been bolstered by the Federal Reserve’s pause signal on rate hikes and strong earnings, with stocks set for a positive week. Focus turns to May consumer sentiment data, expected to dip slightly to 76.0.
Treasury Yields Steady Amid Jobless Claims, Rate Speculation
U.S. Treasury yields showed little change early Friday, as traders assessed the implications of a significant rise in jobless claims for future interest rates. The 10-year Treasury yield slightly decreased to around 4.445%, while the 2-year yield edged higher to 4.811%. This stability follows a robust demand at Thursday’s $25 billion Treasury auction and rising expectations for Federal Reserve rate cuts, driven by the highest jobless claims since August 2023 and forthcoming U.S. inflation data.
