US 10-Year Yield Hits 2002 High; Micron Gives Bullish Forecast

The US 10-year yield hit its highest level since 2002 as rising oil prices fueled a global bond selloff. US equity futures gained support from chipmakers after Micron's upbeat forecast, driven by the AI building frenzy, though the company warned rising compensation would weigh on profit margins. US companies announced the fewest job cuts for any September since 2022.