Dow Futures 140 Pts Higher; Government Funding, US GDP Data in Focus By Investing.com – Investing.com

Dow Futures 140 Pts Higher; Government Funding, US GDP Data in Focus By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Thursday, helped by Treasury yields slipping off highs, while investors await key economic data and news from Washington about government funding.

At 7:05 AM ET (1105 GMT), the contract was up 140 points, or 0.4%, traded 16 points, or 0.4%, higher, while climbed 60 points, or 0.4%.

The major indices suffered from heavy selling earlier this week, the tech heavy in particular, after the hit a high of just under 1.57%. The move higher in yields pressured less profitable tech stocks as it makes promised future cash flows look less attractive now.

The benchmark 10-year Treasury now yields just over 1.51%, easing the pressure on such stocks.

The positive tone may prove fragile, as the opposing political factions on Capitol Hill continue their game of brinkmanship over the continued funding of the federal government.  

Senate Majority Leader said late Wednesday that lawmakers had reached an agreement to avoid a government shutdown on Friday, extending government spending until Dec. 3. Positive as this news may be, it merely kicks the can further down the road. Democrats continue to fight, meanwhile,