U.S. equity futures rose on Friday, as Wall Street gets set to wrap up a volatile week of trading, as a surge in Treasury yields rippled through financial markets.

S&P 500 futures were up 0.3%, and Nasdaq-100 futures advanced 0.5%. Futures tied to the Dow Jones Industrial Average gained 136 points, or 0.3%.

Shares of Akamai Technologies led technology higher in the premarket, jumping more than 19% after announcing a multi-year deal with Anthropic. Other tech stocks such as Fastly and Cloudflare
 also saw gains.

Also helping sentiment, oil prices slid amid optimism that the Strait of Hormuz could be reopened, as Iran’s Foreign Minister Abbas Araghchi has proposed to do so as well as restart nuclear talks with the U.S. within seven days if Washington accepts its conditions.

On Thursday, Reuters reported that the U.S. and Iranian negotiators in New York are considering a phased agreement to end the Middle East conflict.

U.S. West Texas Intermediate crude futures
 dropped 2% to around $92 per barrel, while international benchmark Brent crude futures
 declined 1% to around $104 a barrel.

The Dow is heading for a fourth consecutive losing week, down 0.6% through Thursday’s close. The S&P 500 is on track for a 0.7% advance, while the Nasdaq is up 1.6% week to date.

The drama continued in the bond market, where the 10-year Treasury
 yield climbed to its highest level since 2007 on Thursday, while the 30-year
 yield reached its highest level since 2004. The two were last seen up slightly at 5.183% and 5.478%, respectively.

This week’s ascent in yields was fueled by hawkish comments from Federal Reserve Governor Michael Barr, persistently high energy prices due to the Iran war, and a hot purchasing managers’ report. Fed funds futures trading suggests a roughly 66% likelihood of a rate hike in October, according to the CME FedWatch tool.

The 30-year fixed rate mortgage, which tracks the 10-year note, rose to 7.45%, the highest level since 2024, as borrowing costs for consumers looked poised to increase ahead of the midterm elections.

“Even before the moves of the past few days, the declines in credit card [annual percentage rates] and auto loan rates that occurred from mid- 2024 through the start of 2026 had stalled, and mortgage rates reaccelerated,” Heather Berger, economist at Morgan Stanley, wrote in a note to clients.

“We expect these pressures to weigh on spending, largely through goods, which is contributing to the 40 [basis point] deceleration in real consumption growth we expect next year,” she added.

Meanwhile, traders were monitoring Chinese President Xi Jinping’s visit to the U.S. this week. Treasury Secretary Scott Bessent said earlier in the week that the U.S. and China have agreed to extend their trade truce by two months.