Wall St futures tick higher on easing Treasury yields; Fed minutes in focus

U.S. stock futures advanced in early Asian trading on Tuesday as Treasury yields retreated, easing pressure on equities. The S&P 500 Futures rose 0.1% to 7,735.0 points, while Nasdaq 100 Futures increased 0.3% to 29,606.75 points. Dow Jones Futures remained unchanged at 53,537.0 points. The gains followed a mild uptick on Wall Street, with the S&P 500, Dow, and Nasdaq each posting 0.2% gains.

The recent three-day sell-off, fueled by higher bond yields and poor performance in technology stocks, came to an end. The 10-year Treasury yield settled around 4.64%, while the 30-year yield dipped below 5.19%, following a sharp rise earlier in the week. The decline in yields followed the U.S. Treasury's announcement to double its purchases of longer-term government debt starting in September, a move that helped calm a market sell-off.

However, the Federal Reserve's July meeting minutes revealed a more hawkish stance, with three officials advocating for a quarter-point interest rate hike. Despite the hawkish message, markets largely disregarded the minutes as the Treasury announcement bolstered longer-term bonds. Oil prices edged closer to $92 a barrel as expectations for a rapid resolution of the U.S.-Iran conflict dwindled, raising concerns about potential inflationary pressures from higher energy costs.

Healthcare stocks, particularly Moderna Inc, gained significantly on positive trial results for its personalized mRNA cancer therapy developed in partnership with Merck, contributing to a 3.5% gain in the healthcare sector of the S&P 500.