Wall Street headed toward the close of a volatile trading week as a surge in Treasury yields rippled through financial markets.
US equity futures pointed higher on Friday, with both the S&P 500 and Nasdaq on track to close out the week with gains.
Bond yields continued climbing Thursday while the Nasdaq and S&P 500 traded flat.
The Nasdaq closed at a fresh record while the S&P 500 finished nearly unchanged, as oil prices fell for a fifth consecutive session and investors monitored developments between the United States and Iran.
Stocks were roughly flat as traders weighed climbing Treasury yields against optimism over the reopening of the Strait of Hormuz.
Wall Street's advance follows a mixed week for major indexes, according to CNBC.
The S&P 500 closed slightly lower Tuesday but remains close to record highs, while oil prices extended a five-day losing streak heading into the next session.
After a second consecutive weekly decline for the benchmark index, market analysts point to select stocks trading at levels historically associated with a bounce.
Futures changed little after major indexes rallied on gains in AI-linked shares and declines in yields and oil prices.
Prominent Wall Street strategist Ed Yardeni trimmed his stock market forecast, citing a sharp rise in bond yields that is unsettling even the most bullish investors, CNBC reported.
Traders are weighing the possibility of a new rate-hiking cycle as the Federal Reserve prepares to announce its latest policy decision, according to CNBC.
CNBC reports the "Magnificent Seven" tech stocks are helping limit the broader market's decline this week.
Stocks retreated Friday even after a Thursday rally that followed the Federal Reserve's first rate hike in three years, according to CNBC.
U.S. stocks pulled back from earlier losses Monday, with the S&P 500 trading off its worst levels as concerns over interest rates and oil prices moderated, CNBC reported.
The bank pointed to a 'standout' earnings season led by tech, according to CNBC.
The bank's more optimistic outlook for U.S. stocks comes as corporate profit growth remains a key driver of market sentiment, according to CNBC.