US stock futures inched higher on Thursday as the sharp rise in Treasury yields took a breather, with the 10-year and 30-year yields easing back below 5.3% and 5.7%, respectively. During Wednesday’s regular session, the Dow declined 0.66%, while the S&P 500 and Nasdaq Composite each slipped 0.22%. Those losses followed a renewed climb in Treasury yields to their highest levels since 2002, with the 10-year and 30-year touching intraday peaks of 5.365% and 5.732%.
Oil prices also remained elevated, adding to inflation worries amid fears of a potential escalation in tensions between the US and Iran and ongoing threats to shipping through the Strait of Hormuz. In corporate news, Levi Strauss shares fell nearly 2% in after-hours trading after the retailer lowered its full-year revenue growth outlook. Investors are now looking ahead to additional earnings reports on Thursday from PepsiCo, Progressive and Delta Air Lines, as well as the latest weekly jobless claims data.
