US stock futures were little changed on Tuesday after the major averages opened the week lower, weighed down by ongoing tensions in the Middle East and rising Treasury yields. In Monday’s regular session, the Dow fell 0.51%, the S&P 500 slipped 0.52% and the Nasdaq Composite eased 0.32%. Ten of the 11 S&P 500 sectors finished in the red, with communication services, consumer staples and financials leading the declines.
The pullback coincided with a rise in oil prices amid fading prospects for a new peace agreement between the US and Iran, while efforts to reopen the Strait of Hormuz remained at an impasse. At the same time, the 30-year Treasury yield climbed to its highest level since 2007, underscoring concerns about inflation and expanding government spending.
Investors are now looking ahead to retail earnings from Home Depot, Lowe’s and Walmart later this week for fresh signals on the health and resilience of consumer demand.
