This content was published on
September 10, 2026 - 12:40
5 minutes
(Bloomberg) — US stock futures posted marginal gains and Treasury yields pushed higher as risk appetite remained firmly in check ahead of the latest print on US factory prices and key tech earnings.S&P 500 contracts rose 0.1% to halt a three-day run of losses. Brent crude briefly topped $102 a barrel as Iran signaled it was ready for an intensifying war. The dollar climbed 0.1%. The yield on 30-year Treasuries advanced two basis points to 5.30% ahead of a $22 billion auction later Thursday.Investors are bracing for a busy calendar that could provide fresh catalysts for markets. The packed agenda comes after global yields climbed to the highest in years as the war in the Middle East pushed oil prices higher, prompting traders to bet on tighter monetary policy across the globe.First up is the latest European Central Bank interest rate decision, with a hike already priced in and the focus instead on guidance. Earnings from Oracle Corp. will offer a fresh read on the outlook for artificial intelligence.Meanwhile, the August producer price index could offer clues on the course of inflation for the rest of the year and what it means for US rates.“Today’s PPI report matters, but probably not enough on its own to change the Fed’s decision next week,” said Santiago Mateo Yanguas at CaixaBank AM. “That said, a significant upside or downside surprise could still move markets today by shifting expectations for the rate path beyond the next meeting, particularly in Treasury yields and interest rate-sensitive sectors.”Europe’s Stoxx 600 fell 0.1% ahead of the ECB decision and a briefing by President Christine Lagarde. Regional bonds were little changed. With money markets already favoring three further moves after today’s expected hike by the end of next year, traders say the likelihood of a hawkish surprise is slim.“We don’t think that the ECB would be more hawkish than current pricing,” noted Mohit Kumar at Jefferies. “We expect Lagarde to keep the future path of monetary policy data-dependent and not lean into a series of rate hikes.”Oracle reports after the US close with its shares down 17% this year, sharply underperforming tech peers as traders punished the firm over concerns about heavy capital spending and leverage. While cloud unit sales are projected to have more than doubled in the first fiscal quarter, recent market moves show that strong earnings aren’t always enough to win investors over.“While quarterly results may trigger short-term volatility, we see the underlying earnings trend as the more important driver of long-term equity performance,” said Francisco Simon at Santander Asset Management. “The structural growth story remains intact, and that is ultimately what matters.”Separate figures from Adobe Inc. will offer another window into how software giants are navigating the challenge from AI.Markets largely shrugged off President Donald Trump’s promise to give adult US citizens a $5,000 dividend if Republicans retain control of both houses of Congress.“Markets appear to assign a very low probability to the measure becoming law, given the significant fiscal cost and the political hurdles it would face in Congress,” said CaixaBank’s Yanguas. “Unless the proposal gains tangible legislative support, investors are likely to treat it more as campaign rhetoric.”Corporate News:Grab Holdings Ltd., the biggest ride-hailing and food-delivery firm in Southeast Asia, is in talks to buy a majority stake in Singapore-based buy-now-pay-later platform Atome Financial, according to people familiar with the matter. Boring Co. secured $3 billion in fresh funding backed by the United Arab Emirates and affiliated investment entities, valuing Elon Musk’s tunneling startup at $23 billion. Nasdaq Inc. is investing $100 million in Payward, the parent of cryptocurrency exchange Kraken, according to people familiar with the matter. Apple Inc. unveiled the company’s first foldable smartphone during a wide-ranging event Wednesday, betting that a new category can energize growth for its biggest-selling lineup. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.1% as of 11:38 a.m. London time S&P 500 futures rose 0.1% Nasdaq 100 futures fell 0.2% Futures on the Dow Jones Industrial Average rose 0.2% The MSCI Asia Pacific Index fell 0.6% The MSCI Emerging Markets Index fell 0.6% CurrenciesThe Bloomberg Dollar Spot Index rose 0.1% The euro was little changed at $1.1624 The Japanese yen fell 0.3% to 154.06 per dollar The offshore yuan was little changed at 6.7070 per dollar The British pound was little changed at $1.3537 CryptocurrenciesBitcoin fell 0.4% to $77,979.98 Ether was little changed at $2,469.19 BondsThe yield on 10-year Treasuries advanced one basis point to 4.85% Germany’s 10-year yield was little changed at 3.44% Britain’s 10-year yield advanced one basis point to 5.27% CommoditiesBrent crude rose 0.5% to $101.75 a barrel Spot gold fell 0.4% to $4,383.19 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Nicholas Reynolds.©2026 Bloomberg L.P.
