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[US Stock Futures Hold Steady Ahead of Massive Options Expiry, Bank of Japan Rate Hike Weakens Yen] ⑴ US stock futures were little changed on Friday, with large-cap tech stocks rising and a slight drop in oil prices providing support for market sentiment. ⑵ The near-record-sized expiry of approximately $7 trillion in options and index rebalancing added complexity to the day's trading. ⑶ S&P 500 futures rose slightly by about 0.1%, and Nasdaq futures rose by about 0.3%, with the tech sector continuing to lead the gains. ⑷ Most large-cap tech stocks rose in pre-market trading, with Alphabet up about 2%, and Nvidia, Tesla, and Amazon rising slightly. ⑸ US Treasury yields resumed their decline, with the 10-year yield rising about 3 basis points to around 4.97%, flattening the yield curve. ⑹ The Bank of Japan raised interest rates by 25 basis points as expected, but the vote was divided, with two members opposing, causing the yen to fall by about 1.2% against the dollar. ⑺ The dollar index rose slightly by about 0.2%, and gold rose towards $4,400 per ounce. (8) Brent crude oil traded around $104 per barrel, while WTI remained flat at $96. Weaker diesel and crude oil prices eased inflation concerns. (9) Some institutions pointed out that geopolitical tensions are at a temporary high, and if the US and Iran reach some kind of agreement in the coming weeks, both the bond and stock markets may benefit. (10) Option expiration may release positions that previously suppressed actual volatility, and the premium of individual stock volatility relative to the VIX has narrowed significantly since July. (11) US equity funds saw net inflows of approximately $63.8 billion in the past week, the largest in three months, and index rebalancing will include some new constituent stocks. (12) Market focus has shifted to next week's major power summit and AI issues, with energy prices and monetary policy expectations remaining the main drivers.