Meanwhile, Nasdaq futures are the laggard being down 0.7% on the session.
The mood today has some similarities to trading sentiment yesterday, where stocks fell late on. As mentioned earlier in the day, the key focus this week is still on the Fed and other major central bank meetings.
Until we get to that, there is a sense of trepidation across the market in general. The possibility of a more hawkish Fed, inflation fears, and omicron worries are all factors at play currently. That is keeping investors on edge until we clear the main hurdle tomorrow.
Looking ahead to later today, US PPI figures may offer something to digest on the inflation front so just be wary of that.
Elsewhere in the market, the dollar is now trading more mixed with EUR/USD back above 1.1300 and USD/JPY paring its early advance from 113.75 to 113.55. However, the greenback is gaining slightly against the commodity currencies for now.
As for Treasuries, things are still looking rather steady. 10-year yields are up 0.7 bps to 1.431% at the moment.