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US stock futures stabilized with a decline
US stock futures were flat on Tuesday night after the Dow Jones Industrial Average fell for a second day in a difficult start to the quarter.
Dow Jones futures rose 9 points, or 0.02%. Standard & Poor's 500 and Nasdaq 100 futures rose 0.03% and 0.05%, respectively.
Wall Street is coming off a losing session for major indexes after sticky inflation data from last week, as well as some strong economic data, as investors worried the Federal Reserve would take longer to cut interest rates.
Treasury yields rose, with the 10-year interest rate reaching its highest level since November. Oil prices also rose to their highest levels in five months.
In Tuesday's session, the 30-stock Dow Jones index fell about 400 points, or 1%. The S&P 500 lost 0.7%, while the Nasdaq Composite fell nearly 1%.
However, some market watchers remain generally optimistic about the stock, saying the shares are set to see some consolidation after a strong start to the year. The S&P 500 records its best first quarter since 2019.
“I think it's kind of a step back from the garden variety,” Christine Peterelli, head of global wealth investment solutions at Citi, told CNBC on Tuesday. “We've been hearing day after day that we're either touching all-time highs or we're within reach of all-time highs. So, I don't see anything to read today, more than geopolitics resurfacing, yields resurfacing.
