US stock futures were steady on Friday morning as investors assessed the macroeconomic and geopolitical crosscurrents that have pushed up oil prices and bond yields in recent days. Futures on the Dow Jones Industrial Average (YM=F) and the S&P 500 (ES=F) edged higher, while contracts for the Nasdaq-100 (NQ=F) traded up by 0.2%. The stock market continues to swing in reaction to bond yields and oil prices. The 10-year Treasury yield climbed to 5.16%, its highest level since the global financial crisis, on Thursday amid inflation concerns. "Not a crisis but an eye-opener," BlackRock's Rick Rieder told Yahoo Finance on Thursday about the bond sell-off.
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