Waller’s Hold Signal Lifts Dow Futures 339 Points as 10-Year Yield Slips to 4.75%
Updated
Updated · CNBC · Sep 2
Waller’s Hold Signal Lifts Dow Futures 339 Points as 10-Year Yield Slips to 4.75%
3 articles · Updated · CNBC · Sep 2
Summary
Dow futures rose 339 points, or 0.6%, while S&P 500 futures gained 0.4% after Fed Governor Christopher Waller said he would be inclined to support holding rates steady absent inflation surprises.
Rate-hike odds for the coming meeting fell to 54.6% from 63.2%, and the 10-year Treasury yield eased to about 4.75% after touching 4.818% on Wednesday, its highest since November 2023.
The yen added another tailwind, climbing more than 1% to 156.1 per dollar as investors saw a stronger Japanese currency helping relieve upward pressure on global yields.
Oil still limited the relief trade, with WTI up 1% near $92 a barrel and Brent above $96, keeping inflation concerns alive even after Wall Street snapped a three-day losing streak.
Single-stock moves also shaped sentiment: Snowflake jumped more than 23% on strong results and guidance, while Broadcom fell nearly 4% after a weak fourth-quarter revenue forecast.