U.S. stock futures rose slightly Thursday as the market tried to recover its footing following another losing session. Futures tied to the S&P 500 gained 0.5%, while Nasdaq-100 futures advanced 0.9%. Dow Jones Industrial Average futures fell 0.1%. Apple shares ticked more than 2% higher in the premarket after Bank of America upgraded them to buy, calling for more than 20% upside over the next 12 months. Wall Street is coming off a losing session for the major averages, as Treasury yields rose. On Wednesday, the 30-stock Dow dropped 0.25% for its third straight loss. The S&P 500 slid 0.56%, and the Nasdaq Composite lost 0.59%. The S&P 500 and Nasdaq have fallen in back-to-back days. Investors worried that a strong December retail sales report, which suggests a robust consumer, could mean fewer rate cuts from the Federal Reserve than many are expecting. Currently, markets are pricing in a roughly 56% chance of a quarter percentage point rate cut in March, according to the CME FedWatch Tool. “The fact that the Fed is not talking about raising rates is a good thing, but the fact that the market’s pricing six rate cuts is a problem,” Chris Toomey, managing director at Morgan Stanley, said on CNBC’s “Closing Bell” on Wednesday. “If you look at the fourth quarter, so much of that performance was chasing, right, and chasing and chasing,” Toomey continued. “And now people are like, ‘Wait, do I really want to own this thing at this level?’ And if rates are starting to go higher, you’re going to get a lot of weak hands selling.” On the economic front, weekly jobless claims are on deck Thursday morning, as are housing starts and building permits data. Atlanta Fed President Raphael Bostic is also set to speak. Discover shares slid 8% in the premarket. The credit card company reported that its net charge-off rate climbed during the fourth quarter compared to the prior year. Discover posted fourth-quarter revenue of $4.20 billion, topping estimates of $4.10 billion, according to analysts polled by LSEG. Treasury yields edged lower Thursday, after a brief spike in the previous session, as the latest jobs data came in stronger than expected. The yield on the 10-year Treasury note rose by less than 1 basis point to 4.106%, after trading as high as 4.12% Wednesday, the highest level since Dec. 13. The 2-year Treasury yield was little changed to trade at 4.355%. Hong Kong stocks rebounded Thursday, while mainland China shares also rose after languishing near five-year lows. The CSI 300 index rebounded to gain 1.41% and ended at 3,274.73, while Hong Kong’s Hang Seng index climbed 0.89%. It comes a day after data showed China’s economy expanded by 5.2% in the fourth quarter of 2023, missing Reuters poll estimates of 5.3% growth. In Singapore, Transport Minister S Iswaran has resigned and faces 27 charges including for corruption, following months of investigations by the country’s anti-graft agency. Australian markets extended their losses to a fifth straight day, with the S&P/ASX 200 falling 0.63% and closing at 7,346.5. Japan’s Nikkei 225 slipped marginally to 35,466.17, while the Topix was down 0.17%, ending at 2,492.09. South Korea’s Kospi rallied late to gain 0.17% and rebound to 2,440.04, while the small-cap Kosdaq closed 0.87% up at 840.33. Oil prices rose on Thursday as the IEA joined producer group OPEC in forecasting relatively strong growth in global oil demand this year, with price impetus also coming from disruption to U.S. output and geopolitical risks in the Middle East. Brent crude futures gained 2 cents to $77.90 a barrel while U.S. West Texas Intermediate crude futures rose 22 cents, or 0.2%, to $72.72. Gold prices edged higher on Thursday, helped by a softer U.S. dollar and the Middle East conflict lifting safe-haven appeal, while investors await further comments from a Federal Reserve official to gauge the central bank’s interest rate trajectory. Spot gold last rose 0.41% to $2,013.90 per ounce but was lingering near its five-week low hit in the previous session. U.S. gold futures also gained 0.51% to $2,016.70.