US stock futures inched higher on Tuesday, rebounding slightly after the major averages retreated in the previous session under pressure from rising Treasury yields. Market participants also kept a close watch on geopolitical developments, amid ongoing uncertainty over US-Iran negotiations, even as Saudi Arabia succeeded in restoring oil flows through a key pipeline.
On Monday, the Dow Jones Industrial Average fell 0.67%, the S&P 500 declined 0.77%, and the Nasdaq Composite dropped 0.92%. The pullback came as Treasury yields continued to climb on expectations that stubborn inflation could push the Federal Reserve toward further monetary tightening. The yield on the US 10-year Treasury rose above 5.2%, while the 30-year yield reached 5.55%.
Investors are now awaiting Tuesday’s releases of consumer confidence figures, as well as job openings and labor turnover data, for additional insight into the strength of the US economy.
In corporate news, AMD announced an agreement to acquire World Labs in a transaction valued at $8.2 billion.
