Wall Street investors will be eyeing a positive rebound on Wednesday after stocks drifted lower on New York Stock Exchange (NYSE) and Nasdaq as long-term Treasury yields ticked higher, pressuring the market. S&P, Dow, Nasdaq, and Russell 2000 futures were up.
This comes after S&P 500 fell 0.2 per cent on Tuesday. Dow Jones Industrial Average slipped 0.3 per cent, and the Nasdaq composite fell 0.1 per cent. Stocks have been under pressure as oil prices have swung sharply amid the U.S. war with Iran, helping to push Treasury yields higher. The yield on the 10-year Treasury rose to 5.25 per cent and touched its highest level in 24 years. The price of Brent crude oil fell 1.7 per cent to $96.16 a barrel, but remains far above where it was this summer.
