U.S. stock futures indicate a lower open this morning as a surge in global bond yields and firmer oil prices weaken risk appetite. Technology shares are leading the decline in pre-market trading, continuing the pressure from overseas markets.
Stocks to Watch * NVIDIA Corporation, Advanced Micro Devices, Inc., and Micron Technology, Inc.: These semiconductor companies are trading more than 1% lower in the pre-market in reaction to higher bond yields. * Energy Stocks: Oil-linked companies such as Exxon Mobil Corporation are advancing as crude prices rise due to escalating tensions in the Middle East. * PayPal Holdings, Inc.: Shares are in focus after falling sharply yesterday when a reported buyout consortium decided against acquiring the company. * Medtronic plc & Palo Alto Networks, Inc.: Both companies are scheduled to release earnings reports today, providing insight into the medical products and cybersecurity sectors, respectively.
Looking ahead, all eyes will be on the JOLTS job openings and ISM Manufacturing PMI data, both due at 10:00 AM ET, for fresh signals on the economy's health.