United States stock futures were trading marginally lower on Tuesday night (Wednesday AEST), after Wall Street's major averages fell for a third consecutive session as a global bond sell-off and higher oil prices weighed on investor sentiment.
At 10 am AEST (12 am GMT), Dow Jones Industrial Average futures were flat. S&P 500 futures eased 0.03%, while Nasdaq 100 futures declined 0.2%.
Wall Street ended the previous session lower, with the Dow falling 0.2%, the S&P 500 declining 0.7% and the Nasdaq Composite dropping 1.3%.
Technology stocks led the declines as bond yields in the U.S. and other major markets reached fresh milestones. The 30-year U.S. Treasury yield climbed to a new 19-year high on Tuesday, while Japan's 10-year government bond yield reached its highest level in three decades.
Germany's 30-year Bund yield rose to its highest level since 2011, while France's 30-year bond yield reached its highest point since 2008.
Despite long-term bond yields reaching multi-decade highs, the reaction across equity markets remained relatively contained.
Investors are betting that resilient economic growth and historically strong corporate earnings will continue to support stocks despite higher borrowing costs.
Later in the U.S. session, investors will focus on the minutes from the Federal Open Market Committee's (FOMC) latest meeting for clues on the central bank's interest-rate outlook.
The minutes will be closely watched given divisions within the Federal Reserve. Three policymakers dissented at the July meeting in favour of raising interest rates, and investors will look for further details on the debate.
The U.S. earnings season also remains focused on retailers, with Target, TJX and Lowe's scheduled to report quarterly results.
