Dow Futures Jump 340 Points as 10-Year Treasury Yield Eases to 4.55%
Updated
Updated · CNBC · May 21
Dow Futures Jump 340 Points as 10-Year Treasury Yield Eases to 4.55%
8 articles · Updated · CNBC · May 21
Dow futures rose 340 points, or 0.7%, before Friday's open, while S&P 500 and Nasdaq 100 futures each added 0.4%.
The 10-year Treasury yield fell 3 basis points to about 4.55% and the 30-year dropped to 5.07%, relieving pressure after bond volatility rattled stocks earlier in the week.
That volatility had been driven by fears a prolonged U.S.-Iran war would keep oil prices high and stoke inflation; oil was still up Friday but below this week's peaks on hopes for a deal.
Wall Street still heads for a winning week: the S&P 500 is up 0.5% and on track for an eighth straight weekly gain, while the Dow has climbed 1.5% and the Nasdaq 0.3%.
As stagflation fears grow from the Iran conflict, can the global economy truly avoid a 1970s-style crisis?
With the Strait of Hormuz closed, which critical global supply chains beyond oil are now on the brink of collapse?
After its Supreme Leader's death, who will lead Iran and how will their rule reshape the escalating global conflict?