Bond Yields, Oil Prices Pressure Wall Street Pre-Bell; Asia, Europe Off
MT newswire2026/10/08 11:1107:11 AM EDT, 10/08/2026 (MT Newswires) -- Wall Street futures pointed lower pre-bell Thursday as bond yields and crude prices marched higher, pressuring equities and rich tech-sector valuations. In the futures, the S&P 500 fell 0.6%, the Nasdaq declined 0.9% and the Dow Jones was off 1%. West Texas Intermediate crude oil traded up 4.9% at $92.59, and 10-year US Treasuries offered 5.35%, testing 24-year highs, in pre-bell action. The VanEck Semiconductor fund (SMH) traded down 1.8% pre-bell. Asian exchanges traded lower overnight on weak AI- and semiconductor-related shares, while European bourses tracked south midday on the continent. On the economic calendar is the weekly jobless claims at 8:30 am ET, followed by the weekly EIA natural gas report at 10:30 am. Wolfspeed (WOLF) traded up 15.8% pre-bell after maker of silicon carbide and gallium nitride semiconductor materials and power devices late Wednesday reported it had received a conditional 30-year loan commitment letter from the US Department of Defense. Federal Reserve Governor Christopher Waller, Minneapolis President Neel Kashkari and St. Louis President Alberto Musalem are slated to speak on Thursday. In pre-market action, bitcoin traded at $82,650, and spot gold commanded $4,112 an ounce.
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