Equity futures point to gains after starting the week with a mixed session as the Treasury 10-year note yield approached 3%, making stocks less attractive to investors.
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Dow Jones futures were rising by 0.28%. The S&P 500 added 0.28% and the Nasdaq Composite was up 0.23%.
The yield on the 10-year rose to 2.996% in early trading Monday before moving back down to 2.973%. The last time the yield reached the psychologically important 3% level was in 2013.
The Dow decreased 14.25 points, or 0.06%, to 24,448.69. The S&P 500 rose 0.15 points, or 0.01%, to 2,670.29. The Nasdaq Composite fell 17.52 points, or 0.25%, to 7,128.60.
Shares of Alphabet, Google’s parent company, edged higher in after-hours trading after reporting that quarterly profits surged 73% thanks in part to gains in advertising revenue.
Tuesday is another big day for earnings, with no less than six Dow stocks reporting – United Technologies, Coca-Cola, Travelers, Verizon, Caterpillar and 3M – all before the opening bell.
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After the close of trading we’ll get results from Texas Instruments, Amgen, Capital One Financial and others.
On the economic calendar, investors will get two more housing-related reports in the S&P/Case-Shiller home price report and a report on new home sales. On Monday, the report on March existing home sales rose more than expected. There will also be a report on consumer confidence.
In Asian market trading, Japan’s Nikkei advanced 0.67%.
China and Hong Kong stocks rallied as the Communist Party declared its determination to achieve this year’s economic targets in the face of global trade tensions.
China’s Shanghai Composite gained 2.1%.
Hong Kong’s Hang Seng index added 1.1%.
Fox Business’ Dennis Fitzgerald contributed to this article.
