Tonight's Highlights: Oil and Inflation Fears Lift Treasury Yields; U.S. Futures Fall as Chipmakers Pull Back

U.S. stock index futures dropped across the board on Tuesday, with Nasdaq 100 futures sliding more than 1%.

 

Equity markets came under pressure as climbing Treasury yields—driven by persistent inflation concerns and elevated crude prices—dampened sentiment alongside a broad pullback across semiconductor shares.

 

Major European indexes traded mostly lower.

 

The 30-year U.S. Treasury yield extended its ascent Tuesday, tracking toward its highest close since June 2007.

 

Long-term sovereign bond yields in France and Germany reached levels not seen in over 15 years, while Japan's 30-year government bond yield hovered near historic highs.

 

The recent bond selloff reflects growing investor anxiety that energy prices could remain elevated for an extended period.

 

Talks between the U.S. and Iran remain at an impasse. U.S. President Donald Trump warned on Monday that Washington would take military action against Oman if the country "gets in the way."

 

Brent crude hovered near $91 per barrel.

 

"The equity market has completely shrugged off the relentless rise in global bond yields because of the AI trade," said Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners.

 

"But if yields continue on this trajectory—which I believe they will, presenting clear headwinds for long-duration assets—it is only a matter of when, not if, equities feel the impact."

 

Chipmakers fell broadly in pre-market trading: Micron Technology fell more than 4%, SanDisk slid over 5%, Marvell Technology dropped over 6%, Intel shed more than 4%, and Nvidia lost roughly 2%.

Company News

OpenAI Launches ChatGPT for Teens

 

OpenAI formally rolled out ChatGPT for Teens on August 18.

 

The company stated that accounts will be automatically routed to this dedicated version if its systems identify a user as under 18, or if the user indicates an age between 13 and 17.

 

Anthropic Annualized Revenue Run Rate Set to Top $65B, Up Sixfold From Year-End

 

Anthropic's annualized revenue run rate is on track to cross $65 billion, rising more than sixfold from levels recorded at the end of last year.

 

Anthropic disclosed to investors that its run rate reached $65 billion by late July.

 

The accelerating top-line expansion provides further momentum for Anthropic's public listing plans.

 

Both Anthropic and OpenAI have confidentially filed for IPOs, with Anthropic widely anticipated to debut on Wall Street as early as this fall, ahead of OpenAI.

 

BHP FY2026 Revenue Rises 15% as Copper Drives Over Half of Underlying Earnings

 

BHP Group reported full-year results for the fiscal year ended June 30, 2026, on August 18.

 

Revenue rose 15% year-over-year to $58.8 billion; attributable net profit climbed 9% to $9.8 billion; underlying attributable profit jumped 30% to $13.2 billion; and underlying EBITDA gained 27% to $32.9 billion.

 

BHP noted that copper contributed over half of group underlying EBITDA for the first time—reaching 54%, or more than $18 billion—while the iron ore division achieved record production and shipment volumes.

 

Net debt fell below $9.0 billion at year-end, with the board declaring a final dividend of $0.99 per share, totaling roughly $5.0 billion.

 

BHP highlighted copper as its core growth engine, forecasting an approximate 40% increase in copper output by FY2035.

 

SoftBank Plans Record ¥1 Trillion Retail Bond Sale

 

SoftBank Group is preparing to issue ¥1 trillion in bonds targeted at retail investors. If completed, the offering would mark the largest corporate retail bond issuance in Japanese capital markets history.

 

Tesla Reportedly Preparing Austin Launch for Cybercab This Month

 

Tesla is preparing to launch its Cybercab—the company's first vehicle designed without a steering wheel or pedals—to the public in Austin, Texas, as early as this month.

 

Initial plans involve offering Cybercab rides to employees on public roads before integrating the vehicle into Austin's commercial Robotaxi fleet several days later.

 

Tesla has recently accelerated deployment preparations through test drives, closed-course employee ride-alongs, and first-responder training sessions. While internal targets point to a public rollout before the end of August, exact timings remain subject to adjustment.