Update: US Equity Futures Higher Pre-Bell as Traders Try to Rebound After Yield-Induced Sell-Off

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)

US equity futures were edging higher pre-bell Friday as traders moved to recover after a losing session on Wall Street as Treasury yields continued to rise.

Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.

Iran said that it would have a "devastating" response to any new US threats, Reuters reported Friday. US Treasury Secretary Scott Bessent said he would give more details on Monday regarding the planned "toughest sanctions in history" on Iran.

President Donald Trump said that he had closed a deal to "substantially" lower the price of ground beef for US consumers and will allow up to 300,000 metric tons of the commodity to be imported with no out-of-quota tariff. "We have a commitment that this beef will be sold at 25 percent below current market prices," Trump said in a post on Truth Social.

Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude up 0.3% at $94.04 per barrel and US West Texas Intermediate crude 0.2% higher at $86.97 per barrel.

The August S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.0, down from 54.5 previously, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended 1.2% higher, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.

In equities, Broadcom (AVGO) shares rose 1.3% after a Bloomberg report that the company is in discussions with a group of lenders to raise as much as $100 billion in debt for an artificial intelligence chip financing deal. SK Hynix (SKHY) stock was up 2.6% after a report from news outlet Hankyoreh that the company is moving forward with construction of a memory chip fab in the northeastern Japanese prefecture of Miyagi. Ross Stores (ROST) shares were 7.5% higher after the company reported on late Thursday better-than expected fiscal Q2 earnings and revenue, as well as boosted its full-year EPS guidance.

On the losing side, OSI Systems (OSIS) stock was down 9.6% after the company on late Thursday posted fiscal Q4 revenue that missed analysts' consensus estimates.