Stock market news live updates: Stock futures rise after Nasdaq’s lowest close since October

Stock market news live updates: Stock futures rise after Nasdaq’s lowest close since October

Stock futures opened higher Tuesday evening after broad sell-off during the regular trading day, as investors nervously eyed soaring bond yields and disappointing earnings results from some major index components. 

Contracts on the S&P 500 Dow and Nasdaq gained. This steadying in tech shares came after the Nasdaq Composite dropped 2.6% earlier to fall to its lowest level since October. The index also came within striking distance of a correction, typically defined as a closing level at least 10% below a recent record high. Goldman Sachs (GS) shares drifted higher in late trading after closing lower by 7%, following a disappointing quarterly report showing a slowdown in its equity trading business and jump in compensation costs. Big banks including Bank of America (BAC) and Morgan Stanley (MS) are set to report results Wednesday morning.

Treasury yields spiked, and the benchmark 10-year yield neared 1.9% for its highest level since January 2020. Commodity prices also gained during the session, and U.S. West Texas intermediate crude oil futures settled higher by nearly 2% to top $85, in the highest settlement since Oct. 2014.