Stock index futures were lower on Tuesday as traders continued to focus on developments related to the reopening of the Strait of Hormuz. Dow futures fell 0.17%, S&P 500 futures slipped 0.0321%, and Nasdaq futures declined 0.13%. The 2-year Treasury yield rose 2 basis points to 4.27%, the 10-year yield rose 2 basis points to 4.74%, and the 30-year yield rose 2 basis points to 5.28%. On Sunday, Iran said an agreement with Oman establishing new shipping lanes through the Strait of Hormuz was nearing completion, though Tehran has resisted direct talks with the United States until certain conditions are met. Investors also await Existing Home Sales data due later in the session.
