Traders work on the floor of the New York Stock exchange during morning trading on November 10, 2023 in New York City. U.S. stock futures ticked higher on Tuesday night. Dow Jones Industrial Average futures climbed 47 points, or 0.1%, while Nasdaq 100 futures also advanced 0.2%. "Even a small dip in mortgage rates was enough to provide that pop in mortgage application demand last week, and a fall in long rates spurs mortgage demand and keeps upward pressure on housing prices. I think that's why they, in theory, want to hold [rates] higher for longer," he said.

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Persons: Joe Biden, Dow, Dow Jones, Ross Mayfield, Mayfield, CNBC's Chelsey Cox Organizations: New York Stock, Dow Jones Industrial, Nasdaq, Senate, Investors, Federal Reserve, Baird, Target, Traders Locations: New York City . U.S, U.S