U.S. equity futures rise as oil prices and U.S. Treasury yields pulled back from
recent gains while markets await key inflation data. Subadra Rajappa, head of
U.S. research at SOCGEN, said markets remain relatively resilient and there has
not been any meaningful tightening in financial conditions. The U.S. 10-year
Treasury yield pared gains after sharp rises on Wednesday and Thursday. Oil fell
after reports the U.S. and Iran are discussing a phased agreement that could
reopen the Strait of Hormuz and lead Washington to lift its blockade of Iranian
ports. Sevens Report founder Tom Essaye said in a client note the oil decline
and Treasury yield retreat provided relief for investors.
