US stock futures traded near the flatline on Wednesday evening (Thursday AEST) as traders looked ahead to the first of two inflation reports due this week.
By 10:10 am AEST (12:10 am GMT), Dow futures had added 0.1%. S&P 500 futures gained 0.1%, while Nasdaq-100 futures were flat.
The moves followed a third consecutive session of losses for the major averages. The Dow Jones Industrial Average fell 0.8%, the S&P 500 declined 0.5% and the Nasdaq lost 0.6%.
Higher Treasury yields kept pressure on U.S. stocks after the Treasury Department said it would buy back up to $6 billion in longer-term debt, triple the usual amount.
Less than a month ago, the Treasury said it would more than double the size of its government debt repurchases.
Following the announcement, the yield on the 10-year Treasury note climbed to a session high of 4.857%, its highest level since November 2023.
Rising oil prices amid escalating tensions between the U.S. and Iran also weighed on stocks. International Brent crude futures advanced 3.4% to close at $101.21 a barrel, while U.S. West Texas Intermediate crude futures gained 3.3% to end at $96.05.
Both recorded their highest settlement prices since May.
The recent surge in oil prices comes as traders focus on two inflation reports due this week.
August's Producer Price Index (PPI), a measure of wholesale inflation, is due on Thursday morning. Markets are expecting a monthly gain of 0.4% and a 5.3% increase year over year.
The closely watched Consumer Price Index (CPI) follows on Friday, with markets expecting a 0.4% increase in August and a 3.4% rise over 12 months.
Other economic reports due on Thursday morning include weekly initial jobless claims and August existing home sales.
