Futures Higher as Treasury Yields Drop

U.S. stock futures were slightly higher Tuesday, boosted by a drop in Treasury yields, as Wall Street assessed the impact and risks of a protracted conflict from the Israel-Hamas war.

Futures for the Dow Jones Industrials gathered 26 points, or 0.1%, to 33,827.

Futures for the S&P 500 doffed 0.5 points at 4,368.25.

Futures for the NASDAQ gained 0.75 points to 15,187.75.

PepsiCo shares rose about 1.5% in the pre-market after the beverage and snack maker reported better-than-expected third-quarter results. The company also raised its earnings outlook.

Hamas’ attack against Israel marks the deadliest offensive in 50 years. At least 900 people in Israel have been killed thus far in what Hamas is calling Operation Al Aqsa Flood, with more than 687 people in Gaza and the West Bank dead in retaliatory Israeli strikes across the Gaza Strip, according to the latest figures.

The benchmark 10-year Treasury yield was down about eight basis points at 4.703%, as investors turned to the traditional safe haven amid the conflict. The decline in yields gave stock futures a lift, as Wall Street had been concerned over the recent quick rise in interest rates.

During Monday’s trading session, the 30-stock Dow added 197 points, or 0.6%, while the NASDAQ Composite gained 0.4%. The S&P 500 added 0.6%.

In Japan, the Nikkei 225 hiked 2.4% Tuesday, while in Hong Kong, the Hang Seng collected 0.8%.

Oil prices lost 41 cents to $85.97 U.S. a barrel.

Gold prices shot higher $5.70 to $1,870 U.S. an ounce.

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