Stock futures rebound from Monday’s decline as oil prices ease: Live updates

Stock futures rebounded slightly following a losing day on Wall Street with rising oil prices and bond yields in focus. Those two factors eased a bit Tuesday morning, boosting sentiment.

Dow Jones Industrial Average futures added 70 points. S&P 500 futures gained 0.4% and Nasdaq 100 futures added 0.5%. Futures were lower for most of the overnight session.

The Dow finished nearly 400 points lower on Monday, while the S&P 500 slid close to 1%. Technology stocks felt the brunt of Monday’s declines, pushing the Nasdaq Composite down about 1.2%.

Some tech shares like Nvidia and Super Micro Computer were higher Tuesday. Nvidia added about 1.6% and Super Micro gained 3.3%. Wells Fargo gained 1% in premarket following an analyst upgrade.

Rising bond yields put downward pressure on the market to start the week. Notably, the 10-year Treasury yield climbed above 4% Monday to touch its highest levels since early August.

But the 10-year Treasury yield was stable Tuesday morning, hovering around 4%.

West Texas Intermediate oil futures advanced above $77 per barrel to start the week, but was back down about 2% early Tuesday as traders monitored Israel’s expected retaliation to Iran missile attacks and U.S. efforts to stave off an even wider war in the region.

Stocks have been volatile in the new trading month as investors have grown increasingly fearful of escalating conflict in the Middle East. The S&P 500 is off by a little more than 1.1% in October following a 2% gain in September.

The market rallied a bit to end last week after a blockbuster jobs report. The Dow even managed to notch a new all-time closing high on Friday. But that enthusiasm faded this week as investors reasoned that now the Federal Reserve may not be as aggressive with future rate cuts with the labor market still strong.

“Initially, the market rallied on that really good economic news,” said Larry Tentarelli, chief technical strategist of the Blue Chip Daily Trend Report, of the labor market data. “I think what you’ve got now is the market adjusting to higher bond yields.”

Investors will watch Tuesday for economic data on small businesses and the trade deficit. They’ll also monitor speaking engagements scheduled throughout the day for central bank leaders including Boston Federal Reserve President Susan Collins and Atlanta Fed President Raphael Bostic. A key inflation reading — September’s Consumer Price Index — looms on Thursday.