S&P 500 futures turn negative, down 0.1%
The push higher in Treasury yields is starting to weigh on stocks at the moment as the early optimism fades in the equities space. Tech stocks are hurt the most as Nasdaq futures are marked down 0.6% after having traded positively as much as 0.3% earlier.
Dow futures are hanging in there, up a little over 0.1% but gains have been slashed by some margin after having been advanced by about 0.6% at the start of the session.
For now, the decline is rather contained after having seen the resilience of dip buyers last week but there might be more pain to come for equities if yields continue the unrelenting march higher in the coming days/weeks.
10-year Treasury yields around the region of 1.60% to 1.70% may spell more trouble for stocks in general, especially as we head towards a seasonally weak period in between late-September and mid-October.
