Futures turn lower as bond yields top 5.0pc
Friday, 8 June 2007
NEW YORK, June 7 (Reuters): US stock index futures turned lower Thursday, indicating a lower open on Wall Street, after yields on all Treasuries debt securities rose above 5 per cent, raising concern that stocks face more competition from fixed-income assets.
S&P 500 futures were down 0.2 points, below fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
S&P 500 futures