Traders work on the floor of the New York Stock Exchange during morning trading on July 24, 2026 in New York City.
Michael M. Santiago | Getty Images
Stock futures fell slightly Sunday night as traders hoped for a rebound from a losing week sparked by a spike in U.S. Treasury yields.
Dow Jones Industrial Average Futures It traded 44 points (0.1%) lower. S&P500 and Nasdaq 100 futures They decreased by 0.1% and 0.2%, respectively.
Last week, the Dow Jones Industrial Average fell 0.8%, marking the second straight week of declines. The S&P 500 and Nasdaq fell 1.4% and 2%, respectively, ending their three-week winning streak.
Rising bond yields around the world weighed on stock prices. The yield on the 30-year U.S. Treasury rose above 5.3% last week, the highest level in nearly 20 years. Interest rates in Japan, France, and Germany also reached their highest levels in several years.
Investors grew concerned that the war between the United States and Iran would drag on, leading to higher oil prices and higher inflation. Treasury Secretary Scott Bessent announced steps toward long-term stabilization of the U.S. yield curve, but that reprieve was short-lived.
“I argue that the Treasury’s unexpected decision to increase the size of tactical long-term bond buybacks is, in effect, a Treasury-led ‘Operation Twist’ to counter changes in short-term market conditions rather than quantitative easing,” said David Zervos, chief market strategist at Jefferies. “While share buybacks do not create foreign exchange reserves and therefore lack the direct money-printing route of quantitative monetary easing, I believe that they leave room for fiscal expansion and have the same reflationary effect as quantitative monetary easing.”
Investors will receive new inflation data this week in the form of the Personal Consumption Expenditure Price Index for July on Wednesday. In addition, the Fed will hold its annual symposium in Jackson Hole, Wyoming, where Chairman Kevin Warsh will speak.
Artificial intelligence is also a focus, with Nvidia and Marvell Technologies scheduled to report earnings on Wednesday and Thursday, respectively.
These numbers come after Bloomberg News reported over the weekend, citing sources familiar with the matter, that NVIDIA notified customers that prices for servers powered by Vera Rubin and Blackwell chips would increase by more than 15%.
