U.S. stock futures traded higher Wednesday, as Wall Street tried to recover from steep losses seen in the previous session, boosted by a dip in Treasury yields. Dow Jones Industrial Average futures rose by 113 points, or 0.3%. Futures linked to the S&P 500 and the Nasdaq-100 futures gained more than 0.4%. The benchmark 10-year Treasury yield fell, pulling back from its highest levels since 2007. The 2-year Treasury yield also fell from a recent multiyear high. Rising rates have recently put pressure on stocks amid fears that the Federal Reserve could keep monetary policy tighter for longer than expected. On Tuesday, the S&P 500 fell below the key 4,300 for the first time since June. The Dow also posted its biggest one-day loss since March, dropping more than 300 points to close below its 200-day moving average for the first time since May. These losses came after new home sales and consumer confidence data missed economists’ estimates. “Consumers remain worried about inflation and the impact of higher borrowing costs. This also weighed on housing market activities as mortgage rates tick higher,” said U.S. Bank Asset Management senior investment strategist Rob Haworth. “However, still-high accumulated consumer savings balances, a strong labor market and solid wage growth are providing some support as we near the fourth quarter of the year.” The market is currently living up to its “seasonally weak September,” said Blanke Schein Wealth Management’s chief investment officer Robert Schein. Indeed, the S&P 500 is off 5.2% in September, while the Dow is down 3.2%. The Nasdaq is the laggard of the three, losing nearly 7% this month. Schein expects the volatility to extend into October, before a shift. “Earnings season begins in mid-October and if earnings results are better-than-feared, that just may be the catalyst needed to end this market correction,” he said. U.S. Treasury yields fell on Wednesday, with the yield on the 10-year Treasury coming down from the fresh 15-year high it hit on Tuesday. The 10-year Treasury yield was trading over 6 basis points lower at 4.495%. It had risen as high as 4.566% on Tuesday, its highest level since 2007. The 2-year Treasury yield was last down by more than 2 basis points to 5.052%. Asia-Pacific markets reversed losses to trade mostly higher on Wednesday as investors assessed China’s industrial data and Australia’s August inflation figures. Australia’s weighted inflation rate climbed 5.2% year on year in August, in line with expectations from economists polled by Reuters, while headline inflation came in at 5.5%. The Australian S&P/ASX 200 was the only major index in negative territory, slipping 0.11% to end at 7,030.3. Japan’s Nikkei 225 rebounded to close 0.18% up at 32,371.9, and the Topix advanced 0.32% to end at 2,379.53. South Korea’s Kospi climbed in the afternoon session to end marginally higher at 2,465.07, while the Kosdaq gained 1.59% to snap an eight day losing streak at 841.02. Hong Kong’s Hang Seng index rose 0.7% in its final hour, reversing losses from Tuesday, while the mainland CSI 300 index also inched up 0.21% to close at 3,700.5. Oil prices rose by more than $1 a barrel on Wednesday as markets focused on supply tightness heading into winter and a “soft landing” for the U.S. economy. Brent crude futures were up $1.24, or 1.3%, to $95.20 a barrel. U.S. West Texas Intermediate crude futures climbed $1.41, or 1.56%, to $91.80. Markets continued to worry about U.S. crude stockpiles at the key Cushing, Oklahoma, storage hub falling below minimum operating levels. Gold prices fell to the lowest in more than a month on Wednesday as the prospect of U.S. interest rates staying higher for longer boosted the dollar. Spot gold dropped 0.4% to $1,892.50 per ounce, and hit its lowest level since Aug. 22. U.S. gold futures fell 0.5% to $1,910.60. The dollar stood strong at a 10-month high against a basket of other major currencies, and Treasury yields, although retreating somewhat in European trading, remained near 16-year highs.