us stock index futures were rising tuesday morning supported by declines in bond yields as traders looked ahead to wednesdays inflation report for june and the launch of earnings season later this week on monday the dow jones industrial average rose 210 points or 062 to 33944 the sp 500 increased 11 points or 024 to 4410 and the nasdaq composite gained 25 points or 018 to 13685 the sp 500 index broke a threeday losing streak on monday after benchmark bond yields pulled back from recent highs yields eased further early tuesday helping equity index futures mostly hold their ground in early action markets started the week in a holding pattern but a rates rally in the us emerged as the main theme on monday that sent the 10year treasury yield back beneath 4 again said henry allen strategist at deutsche bank the decline in yields followed some dovish tones in usually secondtier us data softer household inflation expectations and lower used car prices which comes ahead of tomorrows allimportant us cpi print allen added the consumerprice index june report is expected to show headline annual inflation falling to 31 having hit a multidecade peak of 91 a year before however core inflation which strips out volatile items like energy and food prices is expected to be more elevated at 5 the june inflation print is the last big economic data point before the federal reserves next meeting on interest rates the central banks federal open market committee is scheduled to meet in two weeks on july 25 and 26 however with the market starting to price in the possibility that the federal reserve may follow up an interestrate hike this month with another later in the year to lower inflation to its 2 target there is an opportunity for a pleasant surprise for equity bulls according to some analysts a weaker than forecast figure could signal that inflation is moving tellingly towards the feds target which could result in a brief rally if the consensus then changes to one more hike this year as opposed to the two currently in place said richard hunter head of markets at interactive investor this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal