U.S. Stock Futures Are Higher, Rebounding After Down Days for Major Indexes

U.S. stock futures are higher:  Futures are slowly rebounding this morning after a couple of down days for major equity indexes.  10Y treasury yields are inching lower in early morning trading and the spreads between the 2Y & 10Y yields remain steeper.  The 3-Yr note auction is scheduled for this afternoon and investors are intently focus on Wednesday’s CPI release.  Global crude oil prices are down as China’s Covid lockdowns will eventually curb international demand; however, the supply side of the equation is also a bit unknown as Russian crude oil delivers are removed due to various sanctions.  According to AAA, elevated crude prices have been reflected at American gas pumps — and on Tuesday, the national average hit an unadjusted-for-inflation record of $4.37 per gallon.  European markets are up following S&P futures and Asian markets closed lower.