U.S. Stock Futures Are Lower With Higher Interest Rates & Earnings Issues Related to The Retail Sector

U.S. stock futures are lower:  The combination of higher interest rates and earnings issues related to the retail sector is edging equity futures down in morning trading.  Chairman Powell in a WSJ related event made hawkish comments regarding interest rate policy to subdue inflation.  The 10y is currently above 3%, compared to closing at 2.87% and rates are higher across the curve. Higher treasury rates are impacting mortgage applications with overall  demand declining 12% (weekly) and was the first weekly drop in about a month.  International energy prices are higher as the lockdowns in China are expected to ease and global demand is anticipated to increase.  European markets are down following US futures and Asian markets closed mixed.