Tonight's Highlights: U.S. Stock Futures Rebound, Yields Remain Elevated, Bitcoin Approaches $80K

U.S. stock index futures advanced on Friday as investors looked to regain footing following a steep equity selloff triggered by surging Treasury yields. Major European benchmarks traded broadly higher.

 

In the prior session, the three major U.S. equity indexes closed lower, with the S&P 500 and the Nasdaq Composite shedding 0.9% and 1.0%, respectively. Despite earlier federal efforts to stem volatility in the sovereign bond market, Treasury yields resumed their upward trajectory.

 

The bond market—particularly at the long end of the yield curve—remains under pressure as climbing crude prices fan investor concerns over persistent inflation.

 

"Unlike the Federal Reserve when it conducts quantitative easing (QE), the Treasury cannot create money to fund purchases," said Ulrike Hoffmann-Burchardi, Chief Investment Officer for the Americas at UBS.

 

"Any buyback operation must be funded through other means, most likely by increasing the issuance of Treasury bills or by adjusting other borrowing programs."

 

"In effect, this merely alters the maturity profile of the debt held by investors, rather than reducing the overall amount the market needs to absorb," she noted.

 

"It neither eliminates the government's funding needs nor addresses market concerns regarding the supply of U.S. Treasuries."

 

Currently, the 30-year Treasury yield hovers near 5.25%, while the 10-year yield sits around 4.7%.

 

In energy markets, Brent crude futures ticked up to roughly $94 per barrel, following a five-session winning streak.

 

Against the backdrop of high yields, Bitcoin has emerged as a key beneficiary. The cryptocurrency recently gained 7%, briefly approaching $80,000 this morning—a level not reached on a daily closing basis since mid-May. Bitcoin was last trading around $77,000.

 

Digital assets also drew additional support from remarks by U.S. President Donald Trump urging Congress to pass pro-cryptocurrency legislation.

Company News

Anthropic Expected to Match or Exceed SpaceX's IPO Fundraising Record

 

Anthropic expects the size of its initial public offering to match or surpass SpaceX’s record-setting public debut, according to people familiar with the matter.

 

Sources indicated that Anthropic is finalizing its financial models and preparing to formally submit filings for the potential mega-IPO as early as the end of this month.

 

Discussions remain ongoing, and specific parameters—including the final fundraising target—remain subject to change.

 

Musk Denies Report of SpaceX Seeking $6B Spectrum Acquisition

 

Elon Musk posted on social media on August 20 that reports claiming SpaceX is planning to acquire $6 billion worth of spectrum assets are "untrue."

 

Earlier reports citing people familiar with the matter indicated that SpaceX, alongside AST SpaceMobile and other operators, had expressed interest in acquiring $6 billion in spectrum assets held by technology and communications investment firm Grain Management LLC, assets deemed critical for direct-to-cell satellite communications.

 

Anthropic Reportedly Adding Citigroup to IPO Underwriting Syndicate

 

Anthropic plans to add Citigroup to the underwriting syndicate for its initial public offering, according to people familiar with the matter. Citigroup is expected to serve as a lead underwriter alongside Morgan Stanley, Goldman Sachs, and JPMorgan Chase.

 

Anthropic is reportedly considering submitting its public listing application as early as late this month.

 

Broadcom Reportedly Seeks Over $60B in Debt for AI Chip Financing

 

Broadcom is in discussions with a group of lenders to raise more than $60 billion in debt financing for an AI chip facility transaction designed to benefit customers such as Anthropic, according to people familiar with the matter.

 

Sources said the financing structure is being finalized and may include a subordinated debt tranche of approximately $30 billion. Broadcom is reportedly prepared to backstop a portion of the senior secured facility, which could total between $60 billion and $70 billion.

 

Under the current structure, total aggregate financing could reach up to $100 billion.

 

Samsung Electronics Projects Up to 110T Won in 2026 Shareholder Returns

 

Samsung Electronics disclosed to the Korea Exchange on August 21 that it projects shareholder return distributions for 2026 to reach approximately 90 trillion to 110 trillion won. The company plans to distribute approximately 30 trillion won in third-quarter cash dividends, with final details to be determined at an October board meeting.

 

Additionally, Samsung announced an approximate 15 trillion won share buyback to fund employee compensation programs.

 

SK Hynix Evaluating Memory Production Options; No Decision on Japan Fab

 

SK Hynix stated in a regulatory filing on August 21 that it has made no determination regarding the construction of a memory manufacturing facility in Japan.

 

Responding to media reports, the company noted: "While the company is evaluating various options, including the establishment of additional production sites to strengthen the competitiveness of its memory business, no decisions have been made as of the filing date."

 

Media reports had earlier indicated that SK Hynix was considering investing tens of trillions of won to build a memory fabrication plant in Miyagi Prefecture, Japan.