U.S. stock futures rose on Tuesday as optimism about the corporate earnings season and calmer conditions in bond markets supported traders’ risk appetite.
Extra impetus came from news the Bank of England would delay its bond sale program, a move that highlighted central banks’ readiness to halt monetary tightening if needed. though the central bank said that story was “inaccurate.” Some analysts remained skeptical of the rebound’s longevity, however. Jonathan Krinsky, chief market technician at BTIG, noted that although the Nasdaq 100 gained more than 3% in the previous session, it had traded only within Friday’s range.
Similarly, Mark Newton, technical strategist at Fundstrat, said in a note to clients that the recent market strength had not been enough to break either the one or two-month downtrend and that importantly, Treasury yields TMUBMUSD10Y , which closed on Monday above 4%, seem poised to break higher still.
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