Traders work on the floor of the New York Stock Exchange in New York, United States, September 29, 2026.
Jeenah Moon | Reuters
Stock futures rose Sunday evening as traders sought to erase the S&P 500’s weekly loss.
S&P 500 Futures Contracts were up 0.4% while Dow Jones Industrial Average Futures added 128 points, or 0.2%. Nasdaq-100 Futures Contracts gained 0.6%.
Rising oil prices and the sell-off that affected many sectors of the market sent all three major averages into losses on Friday. THE Dow fell by more than 650 points, while the S&P500 lost 0.5%. THE Nasdaq Composite fell 0.2%
The selloff also sent the S&P 500 and Nasdaq to back-to-back weekly losses.
Brent crude rose more than 3% to $116.72 a barrel on Friday, its highest level since April, while U.S. West Texas Intermediate also rose 3.8% to $103.27 a barrel. Energy prices rose following reports that the United States and Israel may be planning attacks on Iran after the midterm elections.
France, of which 10-year bond yield touched 5% last week for the first time since 2002, got some respite from recent turmoil after Moody’s decided to maintain its Aa3 credit rating and negative outlook on the country. Traders feared that the country, the euro zone’s second-largest economy, was headed for a deterioration due to rising borrowing costs.
“A significant and sustained budgetary effort will still be necessary beyond the presidential elections of April and May 2027 to restore France’s public finances and stabilize a debt burden which will exceed 120% of GDP in 2027,” the agency said on Friday.
Moody’s added that it could upgrade France’s outlook to stable if the country’s institutions manage to reduce the deficit.
Traders await the Federal Reserve’s decision on Wednesday. Federal funds futures trading suggests a 90% chance that policymakers will keep interest rates within the current target range of 3.75% to 4%.
Bank of America expects the Federal Reserve to raise rates by a quarter of a percentage point, noting that it would be a “heavy” move.
“The October decision will be a test of Chairman Warsh’s resolve to make a ‘step change’ in the Fed’s forward guidance strategy,” Bank of America economist Claudio Irigoyen said in a research note. “Warsh’s challenge to the press will be to avoid a ‘policy mistake.’ If the Fed raises rates, investors could worry about excessive tightening. If the Fed maintains its stance, markets could question its credibility in fighting inflation.”
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