US Stocks Set For A Slightly Lower Open As Treasury Yields Climb

U.S. stock index futures futures pointed to slightly lower open Thursday, as investors monitor rising bond yields and new earnings.

At around 8:30 a.m. ET, Dow Jones industrial average futures fell 30 points, indicating a decline of 34.93 points at the open. Nasdaq 100 and S&P 500 futures also pointed to a lower start for their respective markets.

The moves in premarket trade follow surging bond yields in the previous session. A slew of economic data pushed the U.S. 10-year yield through to 3.1 percent — its highest since July 2011. Higher yields could be detrimental to U.S. stocks as they can curb investment.

However, U.S. stocks finished higher on Wednesday driven by retail shares. Macy's rose 10.8 percent on stronger-than-expected quarterly results. The Dow Jones industrial average closed 62.53 points higher.

Dow-component Walmart reported better-than-expected quarterly earnings as U.S. online sales grew by 33 percent in the previous quarter.

In terms of data, weekly jobless claims totaled 222,000, slightly more than the expected 215,000.

Meanwhile in the oil market, Brent futures hit $80 a barrel on Thursday amid concerns Iranian exports could fall, cutting supply in the market.

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    Source : https://finance.yahoo.com/news/us-stocks-set-slightly-lower-065100492.html

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