US Futures Edge Higher After Weak Session

US stock futures edged higher on Wednesday after the major averages came under pressure in the previous session, pressured by rising Treasury yields. Futures tied to the Dow, S&P 500 and Nasdaq 100 were each up around 0.2%. During regular trading on Tuesday, the Dow slipped 0.26%, while the S&P 500 and Nasdaq Composite fell 0.17% and 0.09%, respectively. Seven of the 11 S&P sectors finished lower, with energy, materials and consumer staples leading the declines. The moves came as the 30-year Treasury yield climbed as high as 5.62%, reaching levels not seen since June 2002, while the 10-year yield rose to fresh 2007 highs near 5.3%. Investors now await Wednesday’s PCE price index report, the Federal Reserve’s preferred measure of inflation. For the month, the Dow is down roughly 3.5%, while the S&P 500 is little changed and the Nasdaq Composite has gained 1.6%.