Stock Futures Rise as Bond Yields Slip Ahead of Memorial Day Weekend
U.S. stocks looked set to edge higher Friday, as traders shrugged off worries about President Donald Trump’s signature tax bill and geared up for the long weekend.
Futures tracking the Dow Jones Industrial Average were up 67 points, or 0.2%. S&P 500 futures climbed 0.2%, and contracts tied to the tech-heavy Nasdaq 100 were up 0.1%.
Equities have played second fiddle for much of this week, with investors instead focusing on long-term government bond yields amid worries about Trump’s economic policies and the ballooning U.S. deficit. The yield on the 30-year Treasury bond retreated to 5.02% early Friday, having spiked as high as 5.15% the previous session. The 10-year yield slipped to 4.51%.
