US futures point higher after Thursday's sell-off, but bond yields continue to worry some investors (^GSPC, ^DJI, ^IXIC, ^TNX)

<p><img src="https://static3.businessinsider.com/image/602f907fd3570b00180927b7-2400/2021-02-05T201625Z_275744226_RC2KML94KWNO_RTRMADP_3_USA-STOCKS-WEEKAHEAD.JPG" border="0" alt="2021 02 05T201625Z_275744226_RC2KML94KWNO_RTRMADP_3_USA STOCKS WEEKAHEAD.JPG" data-mce-source="Brendan McDermid/Reuters" data-mce-caption="US stocks have had a subdued week after a strong start to February"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul class="summary-list"><li>US stock futures pointed higher on Friday after equities slipped on Thursday.</li><li>Rising bond yields and mixed economic data has weighed on sentiment in recent days.</li><li>Bitcoin hit an all-time high of above $52,800, taking year-to-date gains to around 80%.</li><li><strong><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</strong></strong><hr></li></ul><p>US stock futures pointed to a higher open on Friday after a week in which equities struggled for direction as bond yields rose, increasing borrowing costs and worrying some investors.</p><p>Yields on longer-dated US bonds climbed overnight and traded at around their highest level since February 2020, before the coronavirus pandemic took hold.</p><p><a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures">S&amp;P 500 futures</a> rose 0.31% on Friday morning, after the benchmark index fell 0.44% on Thursday. <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq futures</a> climbed 0.37% and <a href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones futures</a> were up 0.25% after both indexes fell the previous day.</p><p>Stocks were mixed in Asia overnight, with China's <a href="https://markets.businessinsider.com/index/csi-300">CSI 300</a> gaining 0.18% but Japan's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei 225</a> slipping 0.72%.</p><p>The European <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Stoxx 600</a> index was up 0.2% in morning trading while the UK's <a href="https://markets.businessinsider.com/index/ftse_100">FTSE 100</a> was just 0.02% higher. The British pound topped $1.40 for the first time since 2018, as investors cheered the UK's fast vaccination drive.</p><p>Equities have had a subdued week after jumping in early February. Lawmakers continue to debate a possible <a href="https://markets.businessinsider.com/news/stocks/janet-yellen-trillion-stimulus-package-checks-unemployment-jobless-claims-2021-2-1030100693">$1.9 trillion stimulus package</a> in the US and chew over economic data.</p><p>On Thursday, data showed <a href="https://www.businessinsider.com.au/us-weekly-jobless-claims-861000-weekly-filings-unemployment-benefits-recovery-2021-2'utm_source=markets&amp;utm_medium=ingest">US jobless claims rose</a> more than expected to 861,000 the previous week, contrasting with <a href="https://www.businessinsider.com/us-retail-sales-january-beat-estimates-stimulus-economic-activity-recovery-2021-2'utm_source=markets&amp;utm_medium=ingest">stronger-than-predicted retail sales</a> figures from the day earlier.</p><p>A sharp rise in bond yields has also weighed on stocks. When returns on bonds rise, the safe assets became more attractive to investors.</p><p>The yield on the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year US Treasury note</a>, which moves inversely to the price, rose 1.9 basis points to 1.306% on Friday morning. That was near a one-year high of 1.33% touched on Wednesday.</p><p>"A resumption of the surge in global bond yields is starting to worry some traders," said Edward Moya, senior market analyst at currency firm Oanda.</p><p>"Despite a firm Fed commitment that monetary policy will remain supportive and additional fiscal spending from the Biden administration, US stocks are ripe for a pullback if yields continue to go up."</p><p>Nonetheless, the US stock rally has shown little sign of slowing down significantly yet. The S&amp;P 500 is up around 4% in 2021 and 15% over the last 6 months.</p><p>The <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin price</a> rose to an all-time high of above $52,800 on Friday as investors continued to pile into the cryptocurrency. Its year-to-date gain is now around 80%.</p><p><a href="https://markets.businessinsider.com/commodities/oil-price'type=wti">WTI crude oil</a> slipped back from a roughly 14-month high caused by freeing temperatures battering Texas. It was down 1.57% on Friday morning to $59.56 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a> was 1.13% lower at $63.20 a barrel.</p><p><a href="https://markets.businessinsider.com/news/stocks/stock-markets-today-us-futures-bond-yields-worry-bitcoin-2021-2-1030100896#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-symphony-seas-worlds-largest-cruise-ship-deals-with-waste-2020-3">How waste is dealt with on the world's largest cruise ship</a></p>
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