Stock futures are little changed after a steep sell-off sparked by a move back higher in Treasury yields: Live updates

[Zakana]

Stock futures were about flat on Thursday night, following a sharp pullback on Wall Street that put the major averages on pace for weekly declines.

Dow Jones Industrial Average futuresrose just 9 points.S&P 500 futurestraded around the flatline along withNasdaq-100 futures.

TheDowended Thursday's session down 700 points, marking its worst day since July 29. TheS&P 500andNasdaq Compositedropped 0.9% and 1%, respectively. That pullback left the S&P 500 down 1.9% for the week, and the Nasdaq off by 2.5% — putting them on pace to snap a three-week winning streak. The Dow has fallen 1.8% week to date, on track for back-to-back weekly losses.

Thursday's losses came as long-dated U.S. Treasury yields resumed their march higher, after efforts by the government to stem the recent bond market rout failed to ease investor fears about inflation.

"Unlike QE via the [Federal Reserve], the Treasury cannot create money to fund asset purchases," wrote Ulrike Hoffmann-Burchardi, chief investment officer of the Americas at UBS. "Any buybacks must be financed elsewhere, most likely through increased bill issuance or adjustments to other parts of its funding program."

"In effect, the operation reshapes the maturity profile of debt held by investors rather than reducing the amount of debt markets must absorb. It neither removes the government's financing needs nor resolves concerns about Treasury supply," she wrote.

Ross Storesshares jumped more than 7% after hours on better-than-expected results for the second quarter.

Ross Stores jumps on earnings beat

Ross Storesshares were up 7% following the closing bell after the discount retailer reported better-than-expected results for the second quarter.

The company earned $2.06 per share, excluding certain items, on revenue of $6.26 billion. Analysts polled by FactSet expected a profit of $1.95 per share on revenue of $6.16 billion.

Ross also issued better-than-expected full-year earnings guidance.

Stock futures open little changed

Dow Jones Industrial Average futuresrose just 25 points.S&P 500 futuresgained 0.1% along withNasdaq-100 futures.

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