US Stock Futures Fall as Treasury Yields Rise Ahead of Fed Minutes: Dow Jones, S&P, Nasdaq, Wall Street Fiona Craig Wed, October 7, 2026 at 9:20 AM EDT 2 min read CL=F +0.56% ^IXIC -0.77% Nasdaq sign ©bfishadow US stock futures pointed to a lower open on Wednesday after the Nasdaq and S&P 500 reached record closing highs in the previous session, while Treasury yields and crude oil prices moved higher.
The yield on the benchmark ten-year Treasury returned to its highest levels since 2002. Oil prices also rebounded from their lowest level in a month amid renewed concerns about shipping disruptions in the Strait of Hormuz.
UK Maritime Trade Operations said nine attacks had been reported so far this month, compared with 18 across the Strait of Hormuz and Persian Gulf during September.
Yemen's Houthi group separately claimed on X that it had carried out drone and ballistic missile attacks targeting airports and military installations in Saudi Arabia.
Trading activity could remain limited ahead of the release of minutes from the Federal Reserve's latest monetary policy meeting later on Wednesday. The minutes could provide further information on policymakers' views ahead of the central bank's next interest rate decision.
CME Group's FedWatch Tool indicated a 78.4% probability that the Federal Reserve would leave interest rates unchanged and a 21.6% probability of a quarter-point increase.
On Tuesday, US stocks closed higher despite giving back part of their earlier gains. The S&P 500 rose 44.98 points, or 0.6%, to 7,818.93, while the Nasdaq gained 122.48 points, or 0.5%, to 27,599.79. The Dow advanced 253.38 points, or 0.5%, to 51,521.28.
"The big bond market sell-off appeared to be yesterday's news on Tuesday as the S&P 500 hit fresh record levels, supported by buoyant AI stocks," said AJ Bell head of markets Dan Coatsworth.
"Expectation is already building ahead of the U.S. third-quarter earnings season, with numbers starting to filter their way into the market in the coming weeks," he added. "Perceived AI winners are likely to be under the spotlight, particularly given how dominant these companies now are in US indices."
The US trade deficit increased to $105.6 billion in August from a revised $92.8 billion in July, according to the Commerce Department. Economists had expected the deficit to increase to $99.0 billion.
Networking stocks advanced on Tuesday, with the NYSE Arca Networking Index gaining 3.8% to its highest closing level in almost two months. The NYSE Arca Airline Index rose 2.7%, while the Dow Jones Utility Average gained 2.6%.
Housing, telecommunications and retail stocks also advanced, while biotechnology shares declined.
