Futures rise as Treasury yields fall; indexes set for weekly losses
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Apple falls after decline in China Q3 sales
Capri plummets after US judge blocks Tapestry merger
Centene jumps following Q3 profit beat
Futures up: Dow 0.16%, S&P 500 0.22%, Nasdaq 0.24%
Updated at 07:00 a.m. ET/1100 GMT
By Lisa Pauline Mattackal and Purvi Agarwal
Oct 25 (Reuters) - U.S. stock index futures edged higher on Friday as a dip in Treasury yields provided slight reprieve, though all major indexes remained on course for weekly losses.
The benchmark 10-year Treasury note yield eased, after rising as high as 4.26% earlier in the week, and was trading around 4.198%.
Meanwhile, Tesla TSLA.O shares dipped 1.7% in premarket trading, following anearly 22% surge in the previous session, as investors cheered the EV-maker's strong sales forecast.
Gains in the stock had lifted the Nasdaq and the S&P 500 on Thursday, the S&P 500's .SPX first daily advance of the week.
All three major indexes wereset to snap their six-week winning streaks, with equities unsettled by a fairly rapid rise in yields asinvestors bet on astronger economic outlook limiting the scope of future interest-rate cuts by the U.S. Federal Reserve.
"Even with the modest gain, investors are still very cautious as we approach a pivotal couple of weeks, which will include a raft of earnings reports, the US jobs report next week, and the US election," Deutsche Bank analysts said in a note.
"There’s been a reluctance to push the rally much further before we get some clarity on those."
Dow E-minis 1YMcv1 were up 70 points, or 0.16%, S&P 500 E-minis EScv1 were up 12.75 points, or 0.22%, Nasdaq 100 E-minis NQcv1 were up 48.25 points, or 0.24%.
Shares of Apple AAPL.O dipped 0.9% after data showed iPhone sales in China fell in the third quarter. KeyBanc also downgraded the company to "underweight" from "sector weight".
Capri Holdings CPRI.N slumped 46.7% after a U.S. judge blocked a pending merger between the company and handbag maker Tapestry TPR.N. Shares of Tapestry were up 15.7%.
Memory-chip-maker Western Digital's WDC.O shares leapt11.4% after it topped quarterly profit estimates on Thursday, while health insurer Centene CNC.N advanced 14.5% after beating estimates for third-quarterprofit.
A mixed set of earnings across sectors and continued uncertainty around the U.S. presidential election have also made investors cautious.
The week starting Oct. 28 promises to be a crucial one for Wall Street, with earnings from megacaps including Alphabet GOOGL.O, Apple AAPL.O and Microsoft MSFT.O scheduled, as well as nonfarm payrolls data and the final stretch before the Nov. 5 election.
Markets have started pricing in a second Donald Trump administration in recent weeks, despite worries of a possibly contested result and whether one party will control Congress following the election.
On the economic front, September durable goods data and the University of Michigan's final Consumer Sentiment index are on deck, while the Boston Fed's Susan Collins is scheduled to speak on the day. FED/DIARY
Investors are still pricing in another 25-basis-point rate cut at the Fed's November meeting. They expect about two rate cuts by the end of the year, according to LSEG data.
USA-ELECTION/STOCKS Wall Street performs better under a unified government but... https://reut.rs/4hbOKMJ
Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Pooja Desai
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