Futures Rise As 10Y Yields Pull Back From 24 Year High

U.S. stock futures rose on the first day of Q4 as 10-year Treasury yields pulled back after hitting a 24-year high near 5.34%. By 8:00 a.m. ET, S&P 500 futures were up 0.4% after earlier weakness, while Nasdaq 100 contracts gained 0.7% supported by memory and semiconductor strength following an upbeat forecast from Micron. Technology and “Mag 7” names remained firm even as the dollar held a 52-week high and oil climbed. Traders also awaited a busy economic calendar, including weekly jobless claims, manufacturing PMI readings, ISM data, and construction spending ahead of Friday’s NFP.