S&P 500 Futures Drop 1% as Bond Yields Ease and Housing Cools

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Summary · why it matters

US stock futures pointed lower Monday morning, with E mini S&P 500 contracts down around 1%, as investors weighed falling bond yields against a cooling housing backdrop. The US 10 year Treasury yield slipped to about 4.5% after softer inflation readings, while pending home sales dropped 5.4% in June and 30 year mortgage rates sat at 6.55%. Among top movers, Travelers Companies jumped 9.22% after Q2 earnings, dividend affirmation, and a buyback update, while Intuitive Surgical fell 14.15% after multiple analysts cut price targets following Q2 results and slower procedure growth. On the radar, earnings from Alphabet, Tesla, General Motors, and housing-linked stocks are due over the next three sessions.

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Intuitive Surgical Inc
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Multiple analysts cut price targets after Q2 results and slower procedure growth; stock fell 14.15%.

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