05.10.202623:52:47UTC+00US Futures Edge Higher After Tech-Led Rally

US stock futures inched higher on Tuesday after the major averages opened the week on solid ground, with technology shares advancing despite pressure from surging bond yields. Futures tied to the Dow, S&P 500 and Nasdaq 100 were each up about 0.1%.

In Monday’s regular session, the Nasdaq Composite gained 1.05% to notch a new record high, while the S&P 500 rose 0.66% and the Dow added 0.18%. Megacap technology names drove the move higher: Nvidia climbed 2.1%, Tesla advanced 2.2% and Microsoft rose 1.5%.

SpaceX shares also jumped more than 7% after reports that the company has proposed building a natural gas pipeline in Florida to support Starship launches from Cape Canaveral.

At the same time, yields on the US 10-year and 30-year Treasuries reached their highest levels since 2002, tempering risk appetite and keeping investors wary. Elsewhere, oil prices declined on signs of increased supply from the Middle East, helping to ease inflation concerns and dampening expectations for further interest-rate hikes.