US Futures Rise as Treasury Yields Pull Back
US stock futures edge higher as longer-dated Treasury yields retreat from multi-year highs after the government said it will more than double repurchases of 10-, 20- and 30-year debt.
US stock futures edged higher on Thursday after posting a modest rebound in the previous session, as a sharp decline in Treasury yields helped improve investor sentiment.
In regular trading on Wednesday, the Dow and S&P 500 rose 0.22% and 0.21%, respectively, while the Nasdaq Composite advanced 0.16%, with all three benchmarks snapping a three-day losing streak.
The consumer discretionary, materials and consumer staples sectors outperformed the broader market, while industrial, technology and financial stocks lagged.
Yields on longer-dated US Treasurys pulled back from multi-year highs after the government announced plans to more than double repurchases of 10-, 20- and 30-year debt over the coming months.
The move came after the 30-year Treasury yield surged to its highest level since 2007 earlier this week.
Investors now turn their attention to retail giant Walmart’s earnings later in the global day, along with the latest weekly jobless claims data.