Stock futures are flat as traders eye elevated Treasury yields and brace for jobs report due this week: Live updates

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 28, 2026. Brendan McDermid | ReutersStock futures were little changed Wednesday evening as Wall Street geared up for the start of a new trading month.Futures tied to the Dow Jones Industrial Average added 60 points, or 0.1%. S&P 500 futures and Nasdaq-100 futures each gained 0.1%.In regular trading, the broad-market S&P 500 dropped 0.3%, while the Dow lost more than 440 points, or 0.9%. The Nasdaq Composite outperformed, advancing 0.2% on the day.September, historically a weak month for stocks, wasn't kind to the S&P 500, which dropped 0.5%. Investors grappled with higher oil prices and a surge in Treasury yields, stoking fears of additional rate hikes. The Dow lost 4.3%, while the Nasdaq outperformed and gained 1.9% in the month.Wednesday also marked the end of the third quarter. The S&P 500 and the Nasdaq each advanced about 2%, while the Dow lost 2.7%.Investors are heading into the new trading month weighing a softer inflation picture against still elevated Treasury yields and uncertainty over the Federal Reserve's next rate decision, which is scheduled for the end of October. They're also looking ahead to a fresh round of earnings reports from companies."While those factors remain headwinds, corporate earnings have continued to show resilience," said Tracie McMillion, head of global asset allocation strategy at Wells Fargo Investment Institute. "The key question is whether that earnings strength can continue as borrowing costs remain elevated."Treasury yields crept higher even as the personal consumption expenditures price index reading for August came in lighter than anticipated. The metric rose 3.4% over the prior 12 months, coming in cooler than the Dow Jones consensus call for 3.7%. The 10-year Treasury yield breached 5.3% at one point on Wednesday, trading near 2007 highs. The 30-year yield surpassed 5.6%, reaching its highest level since 2002.On Thursday, investors will digest initial jobless claims, due out at 8:30 a.m. ET. That release will be followed by Friday's September jobs report.Nike will report earnings after the bell.The 30-year fixed mortgage rate touches highest level since 2023As Treasury yields rose on Wednesday, so did the rate on the 30-year fixed mortgage.The average rate on the 30-year fixed mortgage hit 7.6%, according to Mortgage News Daily. That's the highest level since Nov. 1, 2023 when the average rate was at 7.69%.Stock Chart IconStock chart icon30-year fixed rate mortgage in 2026The 10-year Treasury yield, which influences mortgage rates, jumped to 5.306% at its high of the day -- the highest level since June 13, 2007. On that day, the benchmark yield hit 5.348%.--Darla Mercado, Gina FrancollaAlphabet rises on new artificial intelligence model 'Argon'Google unveiled Gemini 4 Argon on Wednesday, its most advanced artificial intelligence model yet, offering major improvements in coding, cybersecurity, and complex professional work.The company said the model sets a new record in real-world software engineering, ties for first in cybersecurity, and leads another benchmark measuring performance across finance, legal, and other professional tasks.Alphabet shares rose more than 1% after hours.For more, read the full story here.—MacKenzie Sigalos, Samantha SubinMicron beats on earnings, issues strong guidanceMicron reported better-than-expected quarterly results on Wednesday as the memory maker continues to benefit from soaring demand for AI infrastructure. The stock rose slightly in extended trading.The company reported adjusted earnings of $33.42 per share, beating the LSEG consensus estimate of $31.61 per share, while revenue came in at $54.23 billion, above the expected $51.07 billion.For the fiscal first quarter, Micron said it expects revenue of about $61.5 billion and adjusted earnings per share of $38.15, plus or minus $1. Analysts polled by LSEG had expected earnings of $35.40 per share on $57.02 billion in revenue.Shares were little changed in extended trading.Read the full story here.—Katie Tarasov, Kif LeswingStock futures open flat