(Sharecast News) - Wall Street futures were slightly higher ahead of the bell on Tuesday as traders looked to stabilise after another weak session driven by rising Treasury yields.
As of 1215 BST, Dow Jones futures were up 0.08%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.11% and 0.29% higher, respectively.
The Dow closed 347.11 points lower on Monday, taking a bite out of gains recorded in the previous session, amid elevated oil prices and rising Treasury yields.
Yields were slightly lower prior to the open on Tuesday despite ongoing concerns that stubborn inflation could force further tightening from the Federal Reserve. The benchmark 10‑year Treasury note was a little over two basis points lower at 5.221%, while the 30‑year note, which is typically linked to geopolitical developments, slipped one basis point to 5.542%, keeping both near multi‑year highs and maintaining pressure on equities.
On the macro front, July's S&P/Case-Shiller housing price index will be released at 1400 BST, while September consumer confidence and August JOLTS job openings figures will follow at 1500 BST.
In the corporate space, chipmaker AMD announced that it was acquiring AI business World Labs for $8.2bn, while Reuters rported that Anthropic's much anticipated initial public offering prospectus warned that its AI models posed a "catastrophic or existential risk to humanity".
Reporting by Iain Gilbert at Sharecast.com