US STOCKS-Futures mixed as bond yields rise

* Higher bond yields, dollar pressure futures

* Costco reports better-than-expected results

* Futures: S&P off 1.1 pts, Dow off 9 pts, Nasdaq up 4.25

* For up-to-the-minute market news see [STXNEWS/US]

NEW YORK, Dec 8 (BestGrowthStock) – U.S. stock index futures were
mixed on Wednesday, pressured by rising bond yields and a
stronger dollar.

* Yields rose along with the greenback following Tuesday’s
deal to extend tax cuts that intensified worries about
inflation and the costs of the government’s debt burden. For
details, see [ID:nL3E6N80FG]

* Higher bond yields makes it more expensive for consumers
and businesses to borrow, while stocks and the dollar have
moved in opposite directions of late. A rise in yields and the
dollar could also draw money away from equities.

* The 10-year U.S. Treasury yield rose to 3.25 percent
(US10YT=RR: ) overnight, a level not seen since late June and
beyond Tuesday’s high of 3.18 percent.

* Adding negative sentiment was news the U.S. Securities
and Exchange Commission has issued more than a dozen subpoenas
in its investigation of insider trading on Wall Street,
potentially undermining public confidence in the markets.
[ID:nN07296421]

* The S&P 500 faces resistance at the 1,228 level, which
represents the 61.8 percent Fibonacci retracement of the
2007-2009 bear market slide, a key technical indicator. The
level was confirmed as strong resistance on Tuesday after the
index broke through during the session but closed below that
point at 1,223.12.

* S&P 500 futures (SPc1: ) dipped 1.1 points and were below
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures (DJc1: ) fell 9
points, while Nasdaq 100 futures (NDc1: ) added 4.25 points.

* Bellwether Texas Instruments Inc (TXN.N: ) said it was
confident a recent correction in demand for its chips would be
short-lived, and also narrowed its earnings outlook in line
with estimates. [ID:nN07288607]

* Retailer Costco Wholesale Corp (COST.O: ) posted a
better-than-expected quarterly profit as sales and traffic rose
at its U.S. stores and the weakening dollar helped sales
overseas. [ID:nLDE6B70FO]

* Fortune Brands Inc (FO.N: ), which owns Jim Beam whiskey,
Titleist golf balls and faucet maker Moen, plans to split into
three companies. [ID:nN08124002]

* Stocks eked out a small gain Tuesday after an earlier
advance as a tax cut deal was derailed by the rising bond
yields and reports of the insider-trading probe.
(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)

US STOCKS-Futures mixed as bond yields rise