U.S. stock futures climb as Treasury yields dip from near 16-year highs.
How are stock-index futures doing On Monday, the Dow Jones Industrial Average DJIA fell 37 points, or 0.11%, to 34464, the S&P 500 SPX increased 30 points, or 0.69%, to 4400, and the Nasdaq Composite COMP gained 207 points, or 1.56%, to 13498.
But with 10-year Treasury yields BX:TMUBMUSD10Y seeming to have topped out — for now — stocks rebounded from Monday’s lows, and futures indicate they are looking to continue that rally on Tuesday as yields ease a further 1.5 basis points to 4.231%. But Ozkardeskaya warned: “Nvidia had better meet its $11bn sales forecast for last quarter, otherwise, there is a chance that we will see a sizeable downside correction.”
Traders also have one eye on a likely catalyst later in the week when Federal Reserve Chair Jerome Powell is expected to give a speech at the Jackson Hole symposium.
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