Stock Market Heads for Lower Open Amid Rising Yields and Oil Prices

Stock futures are pointing to a lower open on Tuesday as oil prices and bond yields continue their upward trend. The yield on the 10-year Treasury has reached its highest level since 2007, hitting 5.01% in recent trading. This increase is contributing to higher interest rates for consumer loans and has significant implications for the housing market.

The Federal Reserve's policy committee is set to begin a two-day meeting today, with expectations that it will raise its benchmark interest rate for the first time in three years. The central bank's decision on interest rates is expected to be announced tomorrow afternoon, along with the committee's quarterly economic projections.

Bitcoin prices are also under pressure ahead of a key Senate vote on a bill that would introduce new regulations to the crypto sector. If passed, the Clarity Act would establish stricter guidelines for the industry and could have a significant impact on the value of cryptocurrencies like Bitcoin.