By Oliver Gray
Investing.com - U.S. stock futures rose slightly in early APAC trading on Tuesday after major benchmark indices declined during regular trade as investors continued to move away from growth oriented stocks amid rising long term bond yields.
During Monday’s regular session, the Dow Jones Industrial Average fell 323.54 points or 0.94% to 34002.93, the S&P 500 lost 56.58 points or 1.3% to 4300.47. Meantime, the NASDAQ Composite dropped 311.21 points or 2.14% to 14255.48.
Futures were up 0.08%, 0.1% and 0.21% respectively.
Among stocks, technology companies plunged as higher rates rendered future profits less attractive, with Apple (NASDAQ:AAPL) falling 2.46%, Alphabet (NASDAQ:GOOGL) sliding 1.98%, Amazon (NASDAQ:AMZN) down 2.85% and Facebook (NASDAQ:FB) slipping 4.89%. Meantime, Tesla Inc (NASDAQ:TSLA) added 0.81% after reporting delivery of 241,300 electric vehicles during the third quarter, well above analysts estimates.
On the bond markets, United States 10-Year yields held around 1.482%.
In policy news, negotiations continue among lawmakers to raise or suspend the U.S. borrowing limit and avert a default on the national debt after the Treasury Department warned last week that officials must address the debt ceiling before Oct. 18.