21.08.202611:30:10UTC+00US Futures Pause Declines

US equity futures edged higher on Friday, offering a brief respite from the week’s declines as investors continued to assess macroeconomic risks stemming from elevated energy prices and rising bond yields. Futures on the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 were each up about 0.3%.

Long-dated Treasury yields hovered near the levels seen before the US Treasury announced an increase in its buyback program, while the dollar held on to its recent sharp decline. The move in the greenback underscored persistent market concerns over elevated inflation and growing fiscal deficits at a time when corporate bond issuance is already at record levels.

Semiconductor manufacturers and large AI-focused technology companies were subdued in premarket trading, preserving the steep losses accumulated during the week. Intel, AMD, and Seagate were all on track to end the week roughly 10% lower, while Meta and Broadcom were set for weekly declines of about 7%.

Walmart shares were also about 10% lower for the week following a rare earnings miss reported on Thursday. The disappointing results weighed on the company’s outlook and sent a downbeat signal regarding the health of the US consumer.