Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures ticked higher in overnight trading Thursday as Wall Street looked set to cap off a winning week despite heightened volatility.
Futures tied to the Dow Jones Industrial Average rose 62 points. S&P 500 futures gained 0.1% and Nasdaq 100 futures inched 0.2% higher.
The S&P 500 is up 0.5% week to date despite increased market swings, putting the benchmark on track for its eighth straight weekly gain. The Dow has climbed 1.5% this week and is headed for its third positive week in four. The Nasdaq Composite has added 0.3%, on pace for its seventh weekly advance in the past eight weeks.
Volatility picked up this week as investors wrestled with a sharp rise in long-term Treasury yields. The 30-year Treasury yield climbed above 5.19% earlier this week, reaching its highest level since before the financial crisis, before easing to 5.09% on Thursday.
Oil prices also moved lower as traders grew more optimistic about a potential resolution to the Middle East conflict. West Texas Intermediate crude futures fell nearly 2% to settle at $96.35 a barrel, while Brent crude declined more than 2% to close at $102.58.
“Our view on Iran is the same as before: a deal is much more likely than not, but this is already priced in, and the conflict will have stagflationary effects for at least the next few quarters,” Adam Crisafulli, founder of Vital Knowledge, said in a note.
President Donald Trump is expected to swear in Kevin Warsh, his pick to lead the Federal Reserve and succeed Jerome Powell, during a ceremony on Friday.
