Stock futures were pointing to modest gains early Wednesday as investors braced for results from chipmaker Nvidia (NVDA) after the market close.
Near 8:10 a.m. ET, Dow futures were up 0.2%, S&P 500 futures were higher by 0.2%, and Nasdaq futures were up about 0.2%.
Stocks lost momentum on Tuesday with the Dow losing about 0.5% as rising Treasury yields continue to weigh on equity markets.
Early Wednesday the yield on the 10-year Treasury note stood near 4.28%, about 7 basis points off the 16-year high reached earlier this week.
Retail stocks continued to be the center of most of this week’s biggest moves early Wednesday, with Foot Locker (FL) falling as much as 30% after a disappointing quarter as the company cut its dividend and its outlook for the year.
Peloton (PTON) stock was also down more than 25% early Wednesday after costs for a seat post recall and higher subscriber churn weighed on the exercise bike maker.
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