Yields drive U.S. stocks lower as metals slide.

U.S. stock futures are trending lower as Treasury yields reach their highest levels since mid-2025. While a slight pullback in WTI crude oil prices offered some relief to bond markets, the metals complex remains under significant pressure, with gold and silver seeing sharp declines. Global central banks, including the BoJ, BoE, and ECB, all maintained steady interest rates while highlighting inflation risks stemming from Middle East tensions. Looking ahead, market attention shifts to the PBOC rate decision, a 10-year TIPS auction, and key earnings reports from companies like FedEx and Planet Labs.