U.S. stock futures are higher Friday, with Dow futures +0.50%, S&P 500 futures +0.43% and Nasdaq 100 futures +0.71%. However, the market remains cautious after Thursday’s sharp selloff, as long-term Treasury yields remain elevated despite the U.S. Treasury’s expanded bond-buyback program. 📊 Premarket Market Snapshot Dow Futures: +0.50% S&P 500 Futures: +0.43% Nasdaq 100 Futures: +0.71% 10-Year Treasury Yield: ~4.69% 30-Year Treasury Yield: ~5.25% VIX: ~15.6 Brent Crude: ~$93–94 Gold: ~$4,653 Bitcoin: ~$76,400, after briefly approaching $80,000 🔥 Key Market Drivers ₿ Bitcoin Nears $80K: Bitcoin surged more than 7% Friday and briefly approached $80,000, supported by a weaker dollar, renewed crypto optimism and President Trump’s push for crypto legislation. Bitcoin is on track for its strongest weekly performance in more than three years. 🏦 Treasury Yields Remain the Key Macro Risk: Treasury Secretary Scott Bessent’s expanded buyback program initially pushed yields lower, but the effect has largely faded. The Treasury plans to conduct at least $4 billion of long-duration bond buybacks per operation, while investors remain focused on the U.S. fiscal outlook, heavy borrowing and inflation risks. 🛍️ #ROST: Ross Stores is jumping in premarket after raising its full-year profit guidance and forecasting stronger quarterly sales growth. The results highlight continued demand for value-oriented retailers. 🛒 #BJ: BJ’s Wholesale Club reported stronger-than-expected Q2 results, with revenue rising 16% to $6.23B and comparable sales increasing 12% including gasoline. The company also raised its full-year adjusted EPS outlook. 📉 #WMT: Walmart remains under pressure after Thursday’s results despite beating earnings and revenue expectations. U.S. comparable sales growth of 2.6% was the slowest in years, raising fresh questions about consumer strength. 🛢️ Oil: Brent crude remains around $93–94, keeping inflation risks elevated as geopolitical tensions involving Iran continue. Higher energy prices remain an important risk for inflation expectations and interest-rate policy. 🌎 Thursday Market Recap U.S. stocks suffered their sharpest decline in three weeks on Thursday. The Dow fell 1.3%, S&P 500 0.9% and Nasdaq 1%, pressured by higher Treasury yields, elevated oil prices and concerns around government debt and consumer spending. 🎯 Market Theme Higher Treasury yields + elevated oil + fiscal concerns vs. stronger Bitcoin/crypto momentum and resilient value-oriented retail. Today’s key drivers are Treasury yields, oil prices, Bitcoin, consumer earnings and the ongoing debate over U.S. fiscal policy and Fed expectations. With long-term yields remaining stubbornly high despite Treasury intervention, rates continue to be one of the biggest variables for growth and technology stocks.