A trader works at the New York Stock Exchange (NYSE) in New York City, USA, September 16, 2026. Jeenah Moon | ReutersStock futures fell slightly on Sunday night after a winning week even as Treasury yields hit multi-year highs. Dow Jones Industrial Average futures fell 97 points, or 0.2%. S&P 500 futures lost 0.2% along with Nasdaq-100 futures. A rise in oil prices weighed on stock futures in early trading. Brent crude rose more than 1% to $105.86 a barrel. West Texas Intermediate futures also gained about 1% to $93.20 after President Donald Trump rejected ceasefire conditions presented by Iran. The Dow Jones notched a 0.3% advance last week, snapping a three-week decline. The S&P 500 and Nasdaq Composite had their best weekly results since early August, advancing 1.2% and 2.1%, respectively. In Asia, Japan’s Nikkei 225 added 0.29%, while the broader Topix rose 0.17%. South Korea’s Kospi fell 0.41% at the open after a two-day holiday, while the small-cap Kosdaq fell 0.16%. Australia’s S&P/ASX 200 was flat. US technology stocks led the way last week. Meta Platforms has rallied nearly 13% in that time, as traders applauded the company’s Muse AI agent. Microsoft rose more than 4%, while Apple and Nvidia each advanced more than 1%. Those gains came even as Treasury yields hit highs not seen in years, and traders raised bets on more rate hikes from the Federal Reserve due to persistent inflation. The benchmark 10-year Treasury yield climbed to a level not seen since 2007. The 30-year bond yield peaked in 2004. The 2-year bond yield also jumped about 17 basis points last week. “The rapid rise in two-year government bond yields is sending signals around the world that major central banks need to raise their interest rates further in response to the inflationary impact of higher oil prices for longer as a result of the recent resurgence of war in the Middle East,” wrote Ed Yardeni, president of Yardeni Research. “Unfortunately, these higher rates also exacerbate the prospects for large government deficits around the world.” Rates will be in the spotlight again this week, with a number of key economic data on the table. The August Personal Consumption Expenditure Price Index, the Federal Reserve’s preferred inflation gauge, will be released on Wednesday. New US manufacturing figures will be released on Thursday, while the closely watched September employment report will be released on Friday.
