Stock futures saw modest gains on Tuesday evening after a trading session that experienced pressure from rising bond yields. Contracts linked to the Dow Jones Industrial Average rose 0.16%, while S&P 500 futures matched this increase. Nasdaq-100 futures climbed 0.26%.

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In Asia, Japan's Nikkei 225 surged by 1.4%, with the broader Topix up 0.6%. South Korea's Kospi and small-cap Kosdaq indexes both increased by over 1%. Conversely, Hong Kong's Hang Seng index fell by 0.4%, though mainland China's CSI 300 saw a slight uptick of 0.36%.

The yield on the 30-year Treasury bond crossed 5.6%, marking the highest level since June 2002, while the 10-year yield reached nearly 5.3%, a peak not seen since 2007. Consequently, the Dow dropped more than 100 points, with the S&P 500 and Nasdaq decreasing by 0.2% and 0.1%, respectively. Despite these declines, oil prices dropped significantly during the day.

Jose Torres, a senior economist at Interactive Brokers, observed that equities are striving to stay stable, but tighter financial conditions are fostering bearish sentiments and increasing interest in downside hedges. Comments from New York Federal Reserve President John Williams, who stated there is no immediate need for urgency regarding interest rates, temporarily alleviated fears of further hikes. The CME Group's FedWatch tool indicates a 49% likelihood of a quarter-point rate increase next month, a decrease from 71% earlier this week.

Traders are now focused on the upcoming August Personal Consumption Expenditures price index report, which is the Federal Reserve's preferred inflation measure. Economists surveyed by Dow Jones anticipate a monthly rise of 0.3%, leading to an annual increase of 3.7%.

As September closes and the third quarter comes to an end, market performances have varied. For the month, the S&P 500 and Dow are poised to decline, while the Nasdaq has gained over 1%. For the quarter, both the S&P 500 and Nasdaq have risen about 2%, while the Dow is down nearly 2%.

Earlier in the day, shares in mainland China and Hong Kong displayed mixed results, influenced by ongoing assessments regarding China-EU trade relations. While Hong Kong's Hang Seng declined, the CSI 300 experienced a slight increase. In Japan, the Nikkei 225 led gains in the Asia-Pacific region.

Additionally, the 30-year fixed mortgage rate climbed to 7.58%, the highest since November 2023, as the Federal Reserve forecasts higher overnight interest rates by year-end. The 10-year yield also saw significant increases, hitting 5.293%, the highest since 2007.