U.S. Stocks May Extend Pullback Amid Higher Yields, Crude Oil Prices

(RTTNews) - Following the pullback seen during Wednesday's session, stocks are likely to see further downside in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.6 percent. The downward momentum on Wall Street comes as the Treasury yields are moving modestly higher following the surge seen in the previous session. The yield on the benchmark ten-year note has inched up to its highest level since July 2007, while the thirty-year bond yield has reached its highest level since 2004. Treasury yields are moving higher amid an extended rebound by the price of crude oil, with U.S. crude oil futures surging by nearly 2 percent after jumping by 1.