Stock futures bounce back after sluggish session

On Tuesday, the U.S. stock futures bounced back after a sluggish session, as concerns about rapid inflation continue to weigh on sentiment.

On Monday, the Dow Jones Industrial Average DJIA fell 62 points, or 0.2%, to 31438, the S&P 500 SPX declined by 12 points, or 0.3%, to 3900, and the Nasdaq Composite COMP fell 83 points, or 0.72%, to 11525.

The S&P 500 has slumped 18% this year. On Monday, U.S. stocks were weighed down after a rise in bond yields. Analysts had been anticipating that the month and quarter end rebalancing of portfolios would be supportive of stocks this week. Marios Hadjikyriacos, senior investment analyst at XM, said it is difficult to draw any concrete conclusions so close to quarter end. The yield on the 10 year Treasury TMUBMUSD 10 Y was up to 3.22%. The advanced trade in goods report, along with two measures of house prices and consumer confidence report, are all included in the economic data due to be released. Nike NKE, shares fell after the apparel maker beat earnings estimates but was cautious on margins and China in particular. After a loosening of quarantine requirements in the world's second largest economy, Chinese stocks went up.