Stocks Set for Higher Open, But Weekly Losses Loom

Stock futures in the US are pointing to a higher open, but the market is on track for a losing week after selling off due to the Federal Reserve's indication of higher interest rates. The Fed's message has raised concerns about the impact on consumer and business demand, and its chair, Jerome Powell, did little to boost hopes of avoiding a recession. However, stocks are showing signs of stabilization, with the S&P 500 set to rebound after its worst day since March. The 10-year Treasury yield has also steadied after reaching its highest level in over 15 years.