US STOCKS-Futures slip as U.S. yield holds above 3 pct [Reuters]
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Source: Reuters
US STOCKS-Futures slip as U.S. yield holds above 3 pct | Reuters Reuters Staff 3 Min Read * Futures down: Dow 0.1 pct, S&P 0.42 pct, Nasdaq 0.51 pct By Sruthi Shankar April 25 (Reuters) - U.S. equity futures pointed to a fifth day of losses for the main indexes on Wednesday, spooked by a rise in bond yields and nerves ahead of earnings from scandal-hit Facebook. Yield on the benchmark 10-year Treasury notes held above 3 percent after crossing the level for the first time in four years on Tuesday, stoking concerns about higher borrowing rates for companies already facing rising costs. The Dow Jones Industrial Average closed down 1.7 percent after Caterpillar said first-quarter earnings would be the “high water mark” for the year and warned of higher material costs, especially steel, which surged after the U.S. President announced tariffs on the metal. Boeing, the single largest U.S. exporter to China, rose 2.4 percent after it reported a 57 percent rise in profit, while also raising it
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