U.S. stock futures climbed on Thursday as investors balanced corporate earnings resilience and buying in artificial intelligence shares against surging multi-decade Treasury yields and escalating oil prices above 91 dollars a barrel amid ongoing geopolitical tensions in the Middle East.
Futures tied to the Dow Jones Industrial Average added 86 points, or 0.2 percent, in premarket trading on Oct. 1, 2026. S&P 500 futures rose 0.3 percent, while Nasdaq-100 futures gained 0.6 percent. The upward move in early trading came as major indices attempted to steady following a volatile month of September marked by rising energy costs and climbing bond yields.
Micron Revenue Quadruples but Shares Drop on Pay Raises
Technology shares continued to drive market sentiment to start the new month of trading, echoing a trend that persisted through the broader market in September. Micron Technology posted quarterly results with revenue quadrupling in its most recent quarter. Despite the strong performance, shares of the memory-chip leader dropped on the stock market following the report.
The memory-chip maker is currently reaping 87 percent profit margins but plans to increase worker pay, a move that will dampen margins relative to Wall Street expectations. Even so, the blockbuster results appeared to lift other chipmakers and AI-related companies more than Micron itself. Major technology names including Nvidia, AMD, and Broadcom traded higher in the session, while Alphabet added to the bullish momentum by unveiling its latest Gemini model.
Treasury Yields and Energy Prices Pressure Global Markets
The broader market’s gains unfolded against persistent macroeconomic headwinds. The 10-year U.S. Treasury yield traded near levels not seen since 2002, standing at 5.298 percent after a 1-basis-point gain, while the 30-year bond yield rose to 5.64 percent. In global fixed income markets, U.S. Treasurys underperformed as higher energy prices and bond yields weighed on sentiment.
Energy benchmarks also remained elevated. WTI crude gained 1.6 percent to trade above $91 a barrel as traders awaited what President Donald Trump’s next move would be in the Iran conflict and whether military action would be delayed until after the midterms.
Corporate Earnings Resilience Amid Elevated Borrowing Costs
The push and pull between technology sector strength and macroeconomic pressure defined the close of the third quarter. During September, the S&P 500 dropped 0.5 percent and the Dow lost 4.3 percent, while the Nasdaq outperformed with a 1.9 percent gain driven by technology shares. For the third quarter as a whole, both the S&P 500 and the Nasdaq advanced about 2 percent, whereas the Dow slipped 2.7 percent.
Market participants continue to monitor how sustained high interest rates might impact corporate margins moving forward, especially for companies that cannot pass costs through as borrowing expenses stay elevated across the broader economy.
