Stock futures were flat in overnight trading Thursday as the S&P 500 tried to avoid another losing week amid busy earnings and rising bond yields.

The Dow Jones Industrial Average futures dropped 20 points. S&P 500 futures and Nasdaq 100 futures both traded 0.1% lower.

Following a dramatic Thursday reversal that saw large averages lose earlier gains, the overnight action was lower. The Dow ended the day more than 300 points lower, while the S&P 500 dropped nearly 1.5%. Surging rates and the Nasdaq Composite, a tech-heavy company, were the main culprits of the selloff. They fell 2%.

“Stagflation concerns resurface on the back of real-time signs of a tight labor market and waning business sentiment, coupled with another bounce in 10-year Treasury yields — and all peppered with a deluge of earnings releases,” Chris Hussey, a managing director at Goldman Sachs, said in a note.

For this week, the Dow is up 1% and on pace to break a three-week losing streak. The S&P is up less than 0.1% on the week and attempting to break a two-week losing streak. However, the Nasdaq is currently down 1.3% for the week and on course to record its third consecutive negative week.

Jerome Powell, Federal Reserve Chair, commented on Thursday’s sentiment regarding the possibility that next month will see a higher-than-usual interest rate increase.

Powell claimed that controlling inflation was the key to success during an International Monetary Fund panel moderated by Sara Eisen at CNBC. “absolutely essential”For May, a 50-basis point hike is planned.

The earnings season for first quarter 2014 continues. SnapIts shares jumped more than 6% in extended trading following the introduction of the social media platform reported first-quarter earningsThat included strong increases in daily users.

Following the 10% plunge in Gap shares, they fell 10% the company announcedNancy Green is the company’s CEO for the Old Navy Division. Gap’s outlook on net sales growth for 2022 has been lowered.

Verizon expects to publish results by Friday’s bell.