Futures linked to the Dow Jones Industrial Average were down 0.9%, while S&P 500 futures slipped 0.5%. Nasdaq-100 futures lost 0.7%, after US stocks moved away from record highs in the previous session.
Investor sentiment remained cautious as bond yields stayed near multi-decade highs. The yield on the 10-year US Treasury stood at 5.28%, while the 30-year yield was at 5.66%, signalling tighter financial conditions and increasing borrowing costs.
Markets were also focused on the Federal Reserve’s outlook. Minutes from the Fed’s September meeting showed policymakers unanimously supported a rate hike due to persistently high inflation. Although recent data suggest some easing in price pressures, inflation remains a key concern. Investors are now watching comments from Federal Reserve Governor Chris Waller for further clues on the path of interest rates.
Attention is also turning to the third-quarter earnings season.
PepsiCo reported better-than-expected third-quarter results but cut its profit growth forecast for the full year as it works to improve performance in its key North American market.
The food and beverage giant posted revenue of $25.27 billion for the quarter, up 5.6% from a year earlier and slightly ahead of market expectations.
For fiscal 2026, PepsiCo now expects revenue growth to be at the upper end of its guidance range, at around 6%. However, it lowered its forecast for core earnings-per-share growth to 2.5%-3%, compared with its earlier outlook of 5%-7%.
On the economic front, investors are awaiting the latest US weekly jobless claims data, which could provide fresh insights into the health of the labour market.
Also Read: US stocks fall as Treasury yields hit 2002 high; oil prices rise
(Edited by : Ajay Vaishnaw)
First Published: Oct 8, 2026 6:26 PM IST