This morning, the S&P 500 Index e-mini futures (ES-U3) are trading higher by 0.50 points to 1654.00 per contract. Traders and investors are watching a lot of news take place today. First, The European Central Bank (ECB), and the Bank of England (BOE) both kept their key interest rate unchanged today. Next, yields on the 10-year U.S. Treasury Note are at 2.95 percent. Higher yields have hurt housing stocks, REITS, and utilities. Traders should now expect rates to reach the 3.00 percent level with the current momentum in play.