US stock futures rise after bond yield selloff

U.S. stock index futures inched up on Friday, August 21, 2026, following a sharp selloff in the previous session, but all three main indexes were on track for weekly losses of about 2%. The S&P 500 and Nasdaq were set to snap a three-week winning streak, while the Dow was headed for its steepest weekly fall since mid-March. The market weakness was driven by a jump in long-dated U.S. Treasury yields, which hit their highest level since 2007, as concerns over ballooning government debt, higher financing costs, and persistent inflation dented sentiment. Treasury Secretary Scott Bessent said the government could further increase its Treasury repurchases after Wednesday's surprise intervention. In premarket trading, megacaps like Meta and Tesla led gains, while Ross Stores jumped after raising its annual profit forecasts. Crypto-linked companies rose as bitcoin touched its highest level since late May after President Donald Trump called on Congress to pass a crucial crypto bill. Broader risk sentiment remained in check as Bessent announced the United States will impose 'the toughest sanctions in history' on Iran, a move that helped keep oil prices elevated. Annex Wealth Management raised its year-end target for the S&P 500 to 8,100. Attention now turns to next week's PCE inflation data, Fed Chair Kevin Warsh's speech at Jackson Hole, and Nvidia's quarterly earnings.