Rising Treasury Yields, Oil Prices Drag Down US Equity Futures Pre-Bell

08:05 AM EDT, 09/24/2026 (MT Newswires) -- US equity futures were edging lower pre-bell Thursday as traders observed rising Treasury yields and oil prices. Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 1% lower. The 30-year Treasury bond yield reached 5.44%, its highest level since 2004. The benchmark 10-year Treasury yield also climbed to 5.15%. The market now has a higher expectation that the Federal Open Market Committee will increase its key rate once more in October, with a 73.1% chance of raising rates by 0.25%, according to the CME Group FedWatch indicator. Traders await updates from a summit between President Donald Trump and Chinese President Xi Jinping, scheduled to start at the White House in the morning. Traders also digested the latest round of earnings, with Darden Restaurants (DRI) posting higher fiscal Q1 adjusted earnings and revenue. Costco Wholesale (COST) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect earnings of $6.54 per share on revenue of $94.97 billion. Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.6% at $104.76 per barrel and US West Texas Intermediate crude 1.6% lower at $93.54 per barrel. The weekly jobless claims bulletin is expected to show 200,000 new unemployment claims for the week ended Sept. 19, up from 196,000 in the prior week, according to estimates compiled by Bloomberg. August new home sales, due at 10 am ET, are seen at a 616,000 annual rate, up from 607,000 previously. The Kansas City Fed Manufacturing Index for September posts at 11 am. Federal Reserve Cleveland President Beth Hammack, Philadelphia Fed President Anna Paulson, New York Fed President John Williams and Richmond Fed President Thomas Barkin are slated to speak on Thursday.