Stock futures were flat Tuesday evening as traders look ahead to Wednesday's interest rate hike announcement from the Federal Reserve. S&P 500 and Nasdaq 100 futures climbed 0.07% and 0.07%, respectively. The 2-year U.S. Treasury note yield surged as high as 3.99%, its highest level since 2007. "To be sure, the recent technical weakness in stock prices must now contend with the resolve of monetary policy makers in their fight against inflation." He added that third-quarter earnings season may also add headwinds for stock prices if they show further margin erosion for U.S. companies.

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