U.S. stock index futures futures pointed to slightly lower open Thursday, as investors monitor rising bond yields and new earnings.
At around 7 a.m. ET, Dow Jones industrial average futures fell 27 points, indicating a decline of 29.93 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 is due to release its latest figures before the opening bell. Applied Materials and Nordstrom are set to report earnings after the bell.
In terms of data, there will be jobless claims due at 8:30 a.m. ET.
Meanwhile in the oil market, Brent futures hit $80 a barrel on Thursday amid concerns Iranian exports could fall, cutting supply in the market.