Stock market today: Live updates

Stock futures traded near the flatline on Wednesday evening as traders looked ahead to the first of two inflation reports due this week.

Futures tied to the Dow Jones Industrial Average advanced 55 points, or 0.1%. S&P 500 futures added 0.04%, and Nasdaq-100 futures were marginally lower.

The action comes after the major averages tumbled for a third day. The Dow lost just over 400 points, or 0.8%, while the S&P 500 fell 0.5%. The Nasdaq Composite declined 0.6%.

Higher Treasury yields kept the stock market under pressure after the Treasury Department said it would buy back up to $6 billion in longer-term debt – triple the usual amount. Less than a month ago, the Treasury said it would more than double the size of its government debt repurchases.

Following the move, the yield on the 10-year Treasury note climbed to a session high of 4.857%, its highest level since November 2023.

Rising oil prices amid escalating tensions between the U.S. and Iran also weighed down stocks. International Brent crude futures advanced 3.4% to close at $101.21 a barrel, while U.S. West Texas Intermediate crude futures advanced 3.3% to end at $96.05. Both saw the highest settlement prices since May.

The recent surge in oil prices comes as traders set their sights on two inflation reports due this week.

August’s producer price index, a measure of wholesale inflation, comes out Thursday morning. Economists polled by Dow Jones expect a monthly gain of 0.3%, and a 5.3% advance year over year.

The closely watched consumer price index follows on Friday, with the Dow Jones consensus calling for a 0.4% jump in August and a 12-month increase of 3.4%.

Other economic reports of note include weekly initial jobless claims and August existing home sales. Both are due on Thursday morning.