Stock futures inched higher Tuesday evening following a session marked by pressure from rising bond yields. The 30-year U.S. Treasury yield hit a high above 5.6%, a level unseen since June 2002, while the 10-year yield climbed near 5.3%, its highest since 2007. These moves pushed the Dow Jones down more than 100 points, with the S&P 500 falling 0.2% and the Nasdaq 0.1%. Comments from New York Fed President John Williams eased fears of further rate hikes, with traders now pricing in a 49% chance of a quarter-point rate increase next month, down from 71% on Monday. Investors are awaiting Wednesday’s release of the PCE index, the Federal Reserve’s preferred inflation gauge, expected to show a monthly rise of 0.3% and an annual pace of 3.7%.
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