Equity futures moved up on Thursday, while Treasury yields pulled back, as investors grew hopeful that the Federal Reserve may leave interest rates unchanged this month. S&P 500 futures rose 0.4%, while Nasdaq-100 futures edged up 0.2%. Dow Jones Industrial Average futures climbed 339 points, or 0.6%. The benchmark 10-year Treasury note yield last traded around 4.75%, seeing declines after Federal Reserve Governor Christopher Waller said he’d be “inclined to support” holding rates steady barring any surprises in upcoming inflation data. On Wednesday, the yield hit its highest level since November 2023. Bets among Fed funds futures traders that the central bank would raise rates in a couple weeks fell to 54.6% after his statement, according to the CME FedWatch tool. That’s down from 63.2% a day ago. Waller’s remarks, along with the sharp rise in the yen, supported the drop in yields more broadly and offered some momentum to the market even as oil prices continued their climb Thursday. West Texas Intermediate crude futures traded 1% higher at around $92 per barrel, while Brent futures advanced less than 1% to above $96. Rising crude has put upward pressure on Treasury yields recently, as investors worry elevated energy prices would drive inflation and force the Federal Reserve to increase rates. However, U.S. yields were already under pressure Thursday prior to Waller’s comments as the Japanese yen rallied against the U.S. dollar. The yen was last up more than 1% against the dollar at 156.1 yen. “A stronger JPY could be the thread that helps unravel a lot of the macro overhangs weighing on equities to the extent it continues (a sustained rally in the yen would in theory remove upward pressure from global yields),” wrote Adam Crisafulli of Vital Knowledge. Snowflake shares popped more than 23% in the premarket after the company reported better-than-expected second-quarter earnings and revenue as well as issued strong guidance. Conversely, shares of Broadcom dropped nearly 4% following its latest quarterly results, with the company offering a disappointing revenue forecast for the fiscal fourth quarter. Wall Street is coming off a winning session, with the major U.S. stock indexes snapping three-day losing streaks. The 2-year Treasury yield hit 4.41%, the highest level since January 2025. The 10-year Treasury yield briefly touched 4.818%, the highest mark since November 2023. Both ended the day off their highs, however. Though investors are worried about inflation, New York Federal Reserve President John Williams told CNBC on Wednesday he sees higher Treasury yields as the result of solid economic prospects following record-breaking corporate profits in the second quarter. Asia-Pacific markets close mixed on Thursday. Japan’s Nikkei 225 slid 0.17% to end the trading day at 64,214.48, while the Topix added 0.5% to 4,102.04. South Korea’s Kopsi rose 0.26% to 6,579.58, but the small-cap Kosdaq declined 1.71% to 790.21. Australia’s S&P/ASX 200 was up 0.46% at 9,020.1. Mainland China’s CSI 300 closed 0.1% higher at 4,552.58, while Hong Kong’s Hang Seng lost 0.48% as of its last hour of trade. Gold extended ​gains on Thursday, buoyed by ​a drop in the U.S. dollar and Treasury yields from highs, as investors awaited key payrolls data that could tip the scales on expectations for a Federal Reserve ⁠rate ‌hike this month. Spot gold was up 1.2% to $4,437.08 ⁠per ounce, while U.S. gold futures rose 1.6% to $4,483.30. Bullion slipped to its lowest level since August 7 on Wednesday before settling more than 1% higher as the U.S. dollar index retreated ‌from nearly three-week peak, while Treasury yields eased from multi-year highs. “Modestly weaker dollar and slightly lower U.S. rates are helping gold. With the ​Fed currently offering no forward guidance, gold remains highly sensitive to shifts in market expectations for the September meeting,” said UBS analyst Giovanni Staunovo.