Wall Street futures pointed moderately lower pre-bell Tuesday as rising bond yields and oil prices, and ongoing geopolitical uncertainties in the Middle East, continued to pressure equity values.
In the futures, the S&P 500, the Nasdaq and the Dow Jones were all down about 0.3% pre-bell.
The Federal Reserve starts its two-day policy session in Washington this morning, culminating with a rate announcement on Wednesday afternoon. The CME FedWatch places a 92.5% chance that the US central bank will lift rates by 0.25%.
West Texas Intermediate crude oil traded up 1.9% at $103.33 in morning action, while yields on 10-year US Treasuries topped 5%.
The VanEck Semiconductor fund (SMH) traded up 0.5% pre-bell.
Asian exchanges traded lower overnight on the oil and interest-rate outlook, and after a slate of tepid economic reports from Beijing, including soft housing, investment and retail-sales bulletins.
European bourses tracked moderately south midday on the continent.
On the economic calendar is the Empire State Manufacturing Index for September, at 8:30 am ET.
In pre-market action, bitcoin traded at $76,885, and spot gold commanded $4,275 an ounce.
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