US Stock Index Futures Climb As Yields Cool Off Amid Treasury Support — NVDA, MRNA, MRVL, LOWE In Focus

• The S&P 500 ended 0.2% higher, while the Nasdaq 100 lost 0.2% and the Dow Jones Industrial Average added 0.2%.
• 10-year Treasury yields hovered near the highest levels since early 2025 on Tuesday. 
• Bitcoin jumped as President Donald Trump pressed Congress to pass a key crypto bill.

The S&P 500 and Dow Jones indices ended higher on Wednesday, taking support from falling bond yields after the Treasury Department said it plans to boost buybacks of longer-dated bonds.

The S&P 500 ended 0.2% higher, while the Nasdaq 100 lost 0.2% and the Dow Jones Industrial Average added 0.2%. The Russell 2000, which tracks stocks with small market capitalizations, rose 0.5%.

S&P 500 futures were last up 0.1%, and Nasdaq-100 futures added 0.3%. Dow Jones Industrial Average futures rose 29 points, or 0.05%. 

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) rose 0.4%, and Invesco QQQ Trust (QQQ) ended Wednesday 0.2% higher, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) was up 0.3%.

Meanwhile, the VanEck Semiconductor ETF (SMH) dropped 0.8%, with Nvidia (NVDA), Micron Tech (MU) and Broadcom (AVGO) leading declines. The broader Vanguard Information Technology ETF (VGT) fell 0.4%.

Retail sentiment on Stocktwits for QQQ and DIA was ‘bearish’ with ‘high’ message volumes and was ‘bullish’ on the SPY.

US Market Drivers

In an official release, authorities said that starting September 9, the U.S. Treasury will double the size of its liquidity-support buyback operations for government obligations maturing between 10 and 30 years, scaling them to $4 billion or more. 

Officials highlighted that the aggressive step was taken to strengthen market depth and address emerging illiquidity across benchmark long-dated issues.

The intervention comes after intense pressure in debt markets earlier in the week, when the yield on the 30-year Treasury bond touched 5.31%—the highest borrowing rate for the U.S. federal government since 2007. The iShares 20+ Year Treasury ETF (TLT) gained about 1.5% on Wednesday. 

“This is more of a band-aid than a panacea,” Lawrence Gillum at LPL Financial told Bloomberg. “But it is a reminder that the Treasury Department is paying attention and will do whatever it can to keep yields from getting too high too quickly.” 

Fed officials at their July meeting pointed to the potential for higher rates unless inflation calms, minutes released Wednesday showed. 

“Many participants assessed that policy tightening would likely be necessary if inflation did not decline,” stated the summary of the meeting, held July 28-29. “Some participants commented that financial conditions might not currently be sufficiently restrictive to facilitate a return of inflation to 2 percent.” 

Key Trending Stocks

Nvidia Corp. (NVDA): The company is in discussions to back the artificial intelligence data-labeling startup Mercor in a new funding round that would value the three-year-old firm at $20 billion. 

Moderna (MRNA): mRNA cancer treatment, developed with Merck (MRK), met the primary goal in a pivotal late-stage melanoma study. 

Marvell Technology (MRVL): The company disclosed a formal commercial agreement with Google parent Alphabet (GOOG, GOOGL) that would give Google a warrant to buy roughly $12.2 billion worth of Marvell shares. 

Lowe’s Companies (LOWE): The company updated its 2026 outlook and now expects total sales of $92 billion compared to the earlier guidance range of $92 billion to $94 billion. 

Steel and Aluminum Stocks: US steel stocks dropped after a report stated that the U.S. could halve tariffs on Canadian steel and aluminum. 

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