Dow Futures 155 Pts Higher; Debt Ceiling Negotiations, Micron in Focus By Investing.com – Investing.com

Dow Futures 155 Pts Higher; Debt Ceiling Negotiations, Micron in Focus By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Wednesday, rebounding after the previous session’s rout, with U.S. debt ceiling negotiations and Micron’s downbeat guidance in focus.

At 7:15 AM ET (1115 GMT), the contract was up 155 points, or 0.5%, traded 24 points, or 0.6%, higher, while climbed 90 points, or 0.6%.

The dropped over 500 points, or 1.6%, on Tuesday. The fell 2%, while the tech heavy was particularly hard hit, slumping 2.8%, its worst day since March. 

Surging bond yields prompted the selloff, with the benchmark climbing to its highest level since June just below 1.57%, after Fed chair Jerome Powell warned, in a speech to the Senate Banking Committee, that the recent rise in inflation may last longer than anticipated.

The 10-year yield has slipped back to 1.51% on Wednesday, easing the pressure on the mega cap tech stocks, like Facebook (NASDAQ:), Microsoft (NASDAQ:) and Alphabet (NASDAQ:), which all dropped more than 3% on Tuesday.

That said, Micron Technology (NASDAQ:), one of the world's biggest memory chip suppliers, is set to weigh on the sector when the market opens Wednesday after it provided disappointing