US Stock Market Today: S&P 500 Futures Rise As Growth Holds And Yields Stay Elevated

The Morning Bull – US Market Morning Update Wednesday, Mar, 25 2026

US stock futures are pointing higher this morning, with key contracts on the S&P 500 and Nasdaq up around 1%, as investors weigh easing tensions in the Middle East against stubbornly high borrowing costs. The US 10 year Treasury yield is sitting above 4.4%, an eight month high, which means mortgages, car loans and business financing remain expensive. At the same time, fresh US business surveys show manufacturing at 52.4 and services at 51.1. These levels signal moderate growth while input costs are still rising. That mix puts the spotlight on rate sensitive sectors like real estate and utilities, in contrast to economically sensitive areas such as manufacturing and small caps, and leaves investors asking whether to lean toward companies that can handle higher financing costs or those that benefit most if growth holds up.

With rates increasing borrowing costs, focus on companies built to endure with our solid balance sheet and fundamentals stocks screener (39 results).

Top Movers

• Lumentum Holdings (LITE) surged 10.02% after traders focused on recent strength in optical networking names.
• Fabrinet (FN) jumped 9.96% as investors reacted to reports of strong growth in optical operations.
• Corning (GLW) gained 8.43% following a fresh BofA price target increase and upcoming earnings date news.

Is Fabrinet still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

• Circle Internet Group (CRCL) dropped 20.11% as crypto stocks slid following fresh US stablecoin regulation headlines.
• Axon Enterprise (AXON) fell 9.99% after recent gains in defense and policing tech names reversed.
• Estée Lauder Companies (EL) declined 9.85% as investors reacted to merger talks with Spanish beauty group Puig.

Sharp one day drops like these can reset expectations and sentiment. If you are trying to separate temporary swings from more durable business trends, it can help to compare yesterday’s biggest decliners against broader fundamentals using Our stock screener.

Look past the noise – uncover the top narrative that explains what truly matters for Circle Internet Group’s long-term success.

On The Radar

Earnings from payroll, uniforms and China ecommerce provide a cross section of business conditions as rates stay elevated.

• Payroll and Employment Trends: Paychex (PAYX) reports Q3 results on Wednesday, spotlighting payroll volumes and small business resilience.
• Business Services Pulse: Cintas (CTAS) Q3 numbers on Wednesday highlight demand from office, industrial and service customers.
• China Ecommerce Lens: PDD Holdings (PDD) Q4 report on Wednesday offers a read on cross border consumer and pricing trends.
• Cruise and Leisure Demand: Carnival Corporation & plc (CCL) Q1 earnings on Friday update booking patterns and onboard spending metrics.

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Don’t Just Read The News, Use It

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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