US STOCKS-Wall St to open flat on rising U.S. yields, N. Korea worries

Reuters

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    * North Korea says may have to "reconsider" summit
    * Macy's jumps after results, lifts other department stores 
    * AMD, Micron rise after brokerage actions
    * Futures down: Dow 0.08 pct, S&P 0.06 pct, Nasdaq 0.03 pct 

 (Adds comment, adds details, updates prices)
    By Medha Singh
    May 16 (Reuters) - Wall Street was set to open little
changed on Wednesday as investors assessed the impact of a surge
in bond yields, while  growing doubts about the U.S.-North Korea
summit also weighed.
    North Korea threw next month's summit between Kim Jong Un
and President Donald Trump into doubt, threatening weeks of
diplomatic progress by saying it may reconsider if Washington
insists it unilaterally gives up its nuclear weapons.
 urn:newsml:reuters.com:*:nL3N1SN1QK
    The country's threat to cancel the June 12 summit in
Singapore adds to the jitters in the market, which is already
dealing with China-U.S. trade tensions and inflation concerns.
    The Dow Jones Industrial Average  .DJI  and the Nasdaq
 .IXIC  recorded their biggest one-day percentage drop in three
weeks on Tuesday after strong retail sales data stoked inflation
worries.
    "Traders are looking for some stability coming off of the
sharp decline yesterday," said Andre Bakhos, managing director
at New Vines Capital LLC in Bernardsville, New Jersey.
    "(They are) looking for a little more visibility coming from
the trade front with China even as concern over inflation keeps
rearing its head."
    At 8:47 a.m. ET, Dow e-minis  1YMc1  were down 19 points, or
0.08 percent. S&P 500 e-minis  ESc1  were down 1.75 points, or
0.06 percent and Nasdaq 100 e-minis  NQc1  were down 2.25
points, or 0.03 percent.
    The U.S. 10-year Treasury yield  US10YT=RR  spiked above the
key 3 percent level to its highest since July 2011 on Tuesday
after the retail data. It was last at 3.0613 percent.
    Federal funds futures implied that traders saw a 54 percent
chance that the U.S. Federal Reserve would raise rates for a
fourth time by year-end.  MMT/ 
    Macy's  M.N  6.9 percent jump after reporting a much
better-than-expected rise in same-store sales in the first
quarter, helped shares of other retailers. J. C. Penney  JCP.N ,
Kohl's  KSS.N  and Nordstrom  JWN.N  were all up more than 2.5
percent to 3.5 percent.  urn:newsml:reuters.com:*:nL3N1SN4OM
    Micron  MU.O  rose 2.1 percent in premarket trading after
RBC Capital Markets began coverage with "outperform" rating,
while AMD  AMD.O  gained 1.7 percent after a rating upgrade at
Susquehanna.

 (Reporting by Medha Singh in Bengaluru; Editing by Anil
D'Silva)
 ((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780,
outside U.S. +91 80 6749 1130; Reuters Messaging:
medha.singh.thomsonreuters.com@reuters.net))

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