Despite its recent advance, the 10-year yield remains "in a downtrend" and faces resistance at the 4.09% level and near the 200-day moving average of 4.16%, said Adam Turnquist, chief technical strategist for LPL Financial in Charlotte, NC. Until these levels are conquered, upside rallies in the yield "should be viewed as temporary."

Major Indexes are poised to open higher Tuesday, recovering from the previous session's selloff, as investors await key economic data and earnings reports in the coming days.

Dow Jones futures rose slightly early Tuesday, along with futures for the S&P 500 and Nasdaq, signaling slim gains after retreating in the previous session. Nvidia extended its rally on the stock market today while Tesla trimmed some electric vehicle prices in Europe.

Stock futures slipped on Monday as a lack of clarity from China on the far-reaching stimulus package announced by the People’s Bank of China two weeks ago led to sharp drops in