Stock market today: Live updates

A trader works on the floor of the New York Stock Exchange. 

Peter Kramer | CNBC

S&P 500 futures were near flat on Thursday morning as Wall Street monitored a key mark for a closely followed bond yield and awaited commentary from Federal Reserve Chair Jerome Powell

Futures tied to the broad index traded around flat, while Nasdaq-100 futures rose 0.2%. Futures connected to the Dow Jones Industrial Average slipped 2 points, hovering near the flatline.

The benchmark U.S. 10-year Treasury yield notched a high of 4.981% on Thursday, inching closer to the well-followed 5% level. The yield last crossed the 5% mark in 2007.

Traders will monitor a key speech at noon ET from Powell for insights into the path of interest rates and future monetary policy decisions. Even as inflation numbers have been showing signs of improvement, Treasury yields’ continued climb is raising questions on how the central bank may proceed on monetary policy.

Data on weekly jobless claims and existing home sales for September is also expected on Thursday.

Investors also parsed the latest earnings reports.

Electric vehicle juggernaut Tesla slid 4% after the company missed expectations on earnings and revenue in the third quarter. CEO Elon Musk also warned that the company’s Cybertruck will not produce much positive cash flow more than a year after production starts.

Netflix shares, meanwhile popped 13% after the streaming giant posted third-quarter earnings that beat estimates. The company got a boost from strong ad-tier subscriptions.

Wall Street is coming off a steep sell-off, as Treasury yields surged to multiyear highs. The yield on the 10-year Treasury topped 4.9%, touching its highest level in 16 years. In turn, the S&P 500 tumbled 1.3%, while the 30-stock Dow shed more than 330 points, or 0.98%. The Nasdaq Composite was the underperformer, off 1.6%.

CNBC’s Jeff Cox contributed to this story.

Correction: LSEG is formerly known as Refinitiv. An earlier version misstated the company’s previous name.

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