The U.S. stock market is on a decline for some time. However, U.S. stock index futures were slightly higher Thursday morning after yields got stabilized, which eased concerns about a recession to some extent.
The U.S.-China trade dispute is still in the air and is clearly hampering the U.S. markets. A senior Chinese diplomat ramped up the rhetoric overnight. Also, China has halted spy purchases from the U.S., according to Bloomberg News.
Dow Jones Industrial Average futures indicated a gain of 5 points at the open. Small gains for Nasdaq and S&P 500 was also seen.
After hitting its lowest level since September 2017, the 10-year yield added 3 basis points to 2.26%. Plunging yields this month, along with a yield curve inversion, has raised concerns about slowing economic growth. On Wednesday, the Dow fell more than 200 points as bond yields declined.
Both U.S. and China have imposed heavy tariffs against each other since the start of 2018, which is impacting financial markets a big time.
Advance economic indicators and pending home sales for April are set for release slightly later in the session. The latest weekly jobless claims and a second reading of gross domestic product data are both due at around 8:30 a.m. ET. Investors are likely to closely monitor a flurry of economic data on Thursday.