Wall Street futures pointed moderately higher pre-bell Tuesday as global and US benchmark bond yields stabilized, and traders sought relative values following the recent equity sell-offs. In the futures, the S&P 500 rose 0.5%, the Nasdaq inclined 0.7%, and the Dow Jones was up 0.4%. Yields on the benchmark 10-year US Treasuries held below 4.80%, maintaining stability after a significant rise leading into the new year.
Trades in Asian exchanges were mixed overnight; Tokyo experienced a pullback due to concerns over a rate hike from the Bank of Japan, whereas Hong Kong and Shanghai saw gains after Beijing regulators pledged support for equities markets, collaborating closely with the People's Bank of China. European markets also tracked moderately higher during midday trading on the continent.
KB Home (KBH) surged 8.8% pre-bell after the homebuilder reported optimistic Q4 results and provided encouraging guidance late Monday. The economic calendar highlights the release of the December producer price index (PPI) bulletin at 8:30 am, followed by speeches from key Federal Reserve officials: Kansas City President Jeffrey Schmid at 10 am and New York Fed President John Williams at 3:05 pm.
In premarket action, Bitcoin traded at $96,673, while West Texas Intermediate crude oil fell to $76.73. The yield on 10-year US Treasuries was recorded at 4.78%, and spot gold was priced at $2,666 per ounce. Market indicators such as $US30 and $US500 remained on the radar for investors looking for opportunities in fluctuating markets..