Stock Market Today: Stocks higher, Treasury yields retreat as global markets settle

U.S. equity futures bumped higher Tuesday, building on yesterday's gains, as Treasury yields retreated and risk markets around the world settled amid dovish rate signals from the Federal Reserve and overnight moves by Israel to secure its border with Gaza.

The intensity of the fighting, as well as the potential for the conflict to draw in regional powers such as Saudi Arabia and Iran, continues to fuel safe-haven investment flows, particularly in U.S. Treasury bonds, where benchmark 10-year yields are set for the biggest single-session decline since late March.

Investors, however, are placing firm bets on the Fed having completed its rate hiking cycle, with the odds of a quarter point hike over the next six meetings no greater than 25.3%, according to the CME Group's Fed Watch. Stocks on Wall Street look set for only modest gains, however, given the global investor concern for the deadly fighting in Israel and the ongoing political chaos in Washington, where House Republicans will attempt to elect a new speaker following the historic ouster of Kevin McCarthy last week.

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