US futures inch up as Treasury yields ease, but weekly losses loom

US stocks edged up before the bell on Friday as Treasury yields tipped lower, but with markets still on track for weekly losses with earnings season well underway.

S&P 500 futures (ES=F) rose roughly 0.2%, after the benchmark snapped a three-day losing streak. Dow Jones Industrial Average futures (YM=F) added 0.1%, while contracts on the tech-heavy Nasdaq 100 (NQ=F) were up around 0.2%.

Stocks are reviving somewhat as a pullback in US bond yields lifted some recent pressure on risk appetite. The benchmark 10-year yield (^TNX) slipped to around 4.19%, easing back from a three-month high above 4.25% hit midweek.

But the Dow and S&P 500 still look poised for downbeat weeks after taking a hard knock from that surge, amid worries the Federal Reserve will go slow on interest-rate cuts.

Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards

Meanwhile, Tesla (TSLA) stock slipped about 2% in premarket, having booked its best day since 2013 after a surprisingly upbeat sales forecast and quarterly results. The spate of earnings is easing as the week draws to a close, with Colgate-Palmolive (CL) the highlight.

Elsewhere in corporates, Capri (CPRI) stock cratered 45% in premarket trading after a judge blocked the parent of Michael Kors from merging with Coach owner Tapestry (TPR).

Investors are now starting to brace for potential disruption on the horizon: The November US jobs report due next Friday, and the tight presidential election a week later.

At the same time, Tesla’s earning surprise has laid the ground for the five other “Magnificent Seven” megacaps reporting next week: Google parent Alphabet (GOOG, GOOGL), Meta (META), Microsoft (MSFT), Apple (AAPL), and Amazon (AMZN).