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U.S. stock index futures were slightly higher Wednesday morning, as market participants continued to try to come to terms with a sharp shift in bond markets.
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At around 4:00 a.m. ET, Dow Jones Industrial Average futures rose 34 points, indicating a positive open of more than 33 points. Futures on the S&P 500 and Nasdaq Composite were both seen marginally higher.
Wall Street’s main indexes registered solid gains in the previous session, but finished below their session highs in a reflection of the underlying concerns about the economic outlook.
Last week, the yield on the 10-year U.S. Treasury bill fell below that of the three-month note for the first time since 2007. It’s a development that investors call an inverted yield curve and is seen as an early indicator of a recession.
The U.S. Treasury yield curve has inverted before each recession in the past 50 years and has only offered a false signal just once in that time, according to data from Reuters.
On the data front, international trade figures for January will be released at around 8:30 a.m. ET, with fourth-quarter current account balance data set to follow later in the session.
In corporate news, Lennar and Paychex are set to publish their latest quarterly results before the opening bell.
Lululemon Athletica, PVH and Vale are all set to report earnings after market close.