Stock Market Today: Dow Futures Rise; Bitcoin Jumps

A slide in the 10-year Treasury yield lifted stock futures ahead of a busy slate of earnings from companies including Google parent Alphabet and Microsoft.

After cresting Monday just beyond 5% for the first time since 2007, the yield on the 10-year note continued to retreat toward 4.8% in early trading. Dramatic swings in government bonds have rattled financial markets recently and complicated the outlook for when the Federal Reserve may begin cutting interest rates.

Investors see a low probability that the central bank will begin cutting rates before next summer, according to data from CME Group, especially as the economy shows signs of resiliency. Data due at 9:45 a.m. ET will offer the latest reading on the health of the manufacturing and services sectors.

A busy morning of earnings is up ahead, with companies including Coca-Cola, Verizon and Spotify posting results before the opening bell.

Stock futures advanced, with the Nasdaq-100 leading the way. Contracts tied to the tech-focused index rose 0.4%, while S&P 500 and Dow industrials futures posted smaller gains.

Bitcoin briefly surpassed $35,000. The cryptocurrency climbed as high as $35,144.64, according to CoinDesk, before treating slightly.

Oil swung between small gains and losses as investors monitored the conflict in Gaza. Brent crude, the international benchmark, hovered around $90 a barrel.

Barclays shares sank in London trading after the banking giant posted a sharp fall in profit.

The Stoxx Europe 600 retreated after data showed that a downturn in eurozone economic activity worsened in October. The euro weakened against the dollar, while the yield on the 10-year German bund slid.

Asian indexes mostly climbed. Hong Kong’s Hang Seng was an outlier, losing about 1%.