US pre-open: Futures higher as bond yields, Q3 earnings remain in focus

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Friday as bond yields and corporate earnings remained in focus. As of 1230 BST, Dow Jones futures were up 0.17%, while S&P 500 and Nasdaq-100 futures had both indies opening 0.19% firmer.

The Dow closed 140.59 points lower on Thursday as both IBM and Boeing weighed on the blue-chip index.

Trade Nation's David Morrison said: "In the absence of a significant rally, the US majors are on course to post losses this week. But that doesn't mean that the rally is over. Equities should find support if bond yields continue to pull back from recent highs, while the VIX has also drifted a touch lower which is also supportive.

"Next week sees five of the 'Magnificent Seven' report earnings with Apple, Microsoft, Meta, Apple and Amazon all on tap, rounded off with non-farms at the end of next week. This could prove a big test for the markets while also being a driver of sentiment as we head towards year-end."

The yield on the benchmark 10-year Treasury note remained elevated ahead of the open at 4.199%, down almost two basis points from yesterday's close.

On the macro front, September durable goods orders will be out at 1330 BST, while October's University of Michigan consumer sentiment index will follow at 1500 BST.

In the corporate space, Colgate-Palmolive, AutoNation, and Newell Brands will report earnings on Friday.

Reporting by Iain Gilbert at Sharecast.com