2nd September 2026 – (New York) US equity futures were broadly flat on Tuesday night following another down day on Wall Street driven by a jump in oil prices and a renewed rise in bond yields. Dow Jones Industrial Average futures added about a dozen points, while contracts tied to the S&P 500 and Nasdaq 100 inched higher.
The cautious tone followed a third consecutive negative session in New York, where technology names led declines and the Nasdaq Composite slipped by around 1 per cent. The Dow finished more than 400 points lower as higher yields weighed on valuations and pushed price‑to‑earnings multiples down, a dynamic highlighted by Macquarie Group strategist Thierry Wizman.
In commodities, West Texas Intermediate climbed above US$90 a barrel, its highest since late July, as traders assessed the risk of further escalation in the Middle East after additional US strikes on Iran. The move in crude added to inflation concerns and reinforced the sell‑off in global bonds.
The US 10‑year Treasury yield rose to its strongest level since early 2025, adding pressure to equities and stoking comparisons with previous episodes of market stress. Strategists warned that persistently higher yields force analysts to discount future earnings more aggressively, compressing equity multiples.
Asia‑Pacific markets tracked the softness early Wednesday. Japan’s Nikkei 225 fell 1.60 per cent and the Topix lost 1.44 per cent. In South Korea, the KOSPI opened down 2.87 per cent and the small‑cap‑heavy KOSDAQ dropped 2.51 per cent. Australia’s S&P/ASX 200 was 1.09 per cent lower. Note: KOSPI and KOSDAQ are the exchanges’ official stylisations.
Attention now turns to US data and corporate updates. Investors will parse the ADP private payrolls report for August on Wednesday, alongside factory activity readings and the Federal Reserve’s Beige Book, for clues on growth and inflation.
Earnings are also in focus, with Hewlett Packard Enterprise, Snowflake and Broadcom scheduled to report after Wednesday’s closing bell. Hewlett Packard Enterprise (HPE) is the enterprise technology company formed from the 2015 split of Hewlett‑Packard, now headquartered in Spring, Texas.
After‑hours moves were mixed. Dell Technologies jumped after topping estimates and lifting guidance on AI‑related demand, while MongoDB fell despite better‑than‑expected results and an upbeat outlook. Connectivity firm Credo Technology also slipped after margin commentary; the company trades on the Nasdaq under the ticker CRDO.
