Industrial leaders supported a 0.25% rise in Dow Jones futures this morning, fueled by stronger-than-expected factory orders. Traders are rotating into capital goods stocks as order backlogs suggest sustained output. The SPDR S&P 500 ETF Trust (NYSE: SPY ) and Invesco QQQ Trust ETF (NASDAQ: QQQ ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose on Friday. The SPY was up 0.57% at $661.82, while the QQQ rose 0.41% to $595.97, according to Benzinga Pro data. Meanwhile, Treasury yields held steady after private payrolls data released Wednesday raised investors bets on a Federal Reserve interest rate cut in October. The 10-year yield ( ^TNX ) rose by 1 basis point to 4.11%. Futures for the Dow Jones traded higher in premarket by 0.19%, lifted by strong capital expenditure reports. Corporate America’s investment momentum could sustain industrial earnings into the next quarter.
