U.S. stock futures were mixed early Thursday, with the Dow Jones Industrial Average showing slight gains as investors digested the previous day’s rebound that snapped a three-day losing streak for major averages. Treasury yields eased after hitting multiyear highs on Wednesday. The Japanese yen saw a significant surge against the U.S. dollar, reaching a four-month high, as traders watched for potential intervention.
Stock Futures Little Changed After Major Averages Snap Three-Day Losing Streaks
Published: September 3, 2026
U.S. equity futures traded mixed early Thursday, showing little change after major stock averages managed to snap a three-day losing streak on Wednesday. The rebound came amid a backdrop of rising Treasury yields and heightened geopolitical tensions between the U.S. and Iran.
S&P 500 futures were flat, while Dow futures showed a slight gain of 78 points, or 0.15%. Nasdaq 100 futures, however, slipped 0.05%.
On Wednesday, the Dow Jones Industrial Average closed up nearly 300 points, or about 0.6%, breaking its three-day slump. Both the S&P 500 and the Nasdaq Composite also gained 0.5%.
Asian Markets Mixed, Yen Surges Against Dollar
In Asia, markets presented a mixed picture. South Korea's Kospi rose 1.32%, while the Kosdaq fell 0.5%. Japan's Nikkei 225 was largely unchanged, with the Topix up 0.8%. Australia's S&P/ASX 200 saw a modest increase of 0.17%. Hong Kong's Hang Seng Index gained 0.61%, and the CSI 300 added 0.6%.
Later in the day, Asia-Pacific markets closed mixed. The Nikkei 225 slid 0.17%, while the Topix added 0.5%. South Korea's Kospi rose 0.26%, but the Kosdaq declined 1.71%. Australia's S&P/ASX 200 was up 0.46%, while China's CSI 300 closed 0.1% higher. Hong Kong's Hang Seng lost 0.48%.
The Japanese yen saw a significant jump, surging by around 1% against the U.S. dollar to reach a four-month high of 156.75 per dollar. Traders are closely watching for any signs of intervention to support the yen, following a joint intervention by the U.S. and Japan in late July.
Treasury Yields Ease After Hitting Multiyear Highs
Wednesday saw the 2-year Treasury yield hit 4.41%, its highest level since January 2025. The 10-year Treasury yield briefly touched 4.818%, a mark not seen since November 2023. Both yields retreated from their highs by the end of the trading day.
On Thursday morning, Treasury yields showed a slight decrease. The 10-year Treasury note yield was down nearly 2 basis points at 4.776%. The 30-year Treasury yield was over one basis point lower at 5.25%, and the 2-year note yield was down around one basis point at 4.317%.
Oil Prices Stable Amid Geopolitical Concerns
Oil prices were modestly higher on Wednesday, with West Texas Intermediate futures closing just above $91 a barrel. On Thursday, oil remained little changed as traders assessed the latest developments in the Middle East. Brent crude futures for November delivery were flat at $95.60 a barrel, while U.S. West Texas Intermediate futures for October rose 0.15% to $91.15 per barrel.
Kuwait reported confronting hostile missile and drone attacks from Iran on Thursday. The ongoing tensions in the Strait of Hormuz and Bab al-Mandeb could lead to tighter physical markets and price increases if disruptions worsen.
Fed Official Comments on Economic Outlook
New York Federal Reserve President John Williams commented on the rising Treasury yields, attributing them to strong economic prospects fueled by significant investments in AI, data centers, and technology. He stated, "It's not really about financial conditions affecting the economy. It's more about the economy affecting financial conditions."
Economic Data and Earnings on Deck
Looking ahead, traders will be monitoring weekly jobless claims on Thursday. The main economic event will be Friday's August payrolls report.
In the corporate earnings sphere, Ciena and Campbell's are scheduled to report their results on Thursday morning. Zscaler, Docusign, and UiPath will release their earnings in the afternoon.
Notable After-Hours Moves
In after-hours trading on Wednesday, Broadcom shares pared back significant losses after an initial 5% dip following its earnings report. Despite a revenue forecast slightly below estimates, the stock climbed back towards break-even.
Snowflake shares surged over 20% after reporting second-quarter results that surpassed analyst expectations. Hewlett Packard Enterprise slipped 4% despite projecting earnings growth. Petco jumped about 9% on improved EBITDA margin figures.
