Stocks appear on track to open Tuesday's session on a mixed note after Monday's sharp retreat amid the climb in bond yields. Given the lack of any major market-moving data and earnings news, the market could witness directionless trading until Friday. All eyes could be on the yield on the 10-year Treasury note, which is considered a proxy for rate expectations.

The major U.S. averages closed Monday's session notably lower, as a strong service sector reading tempered expectations for a Fed easing. All sector indices moved to the downside, led by consumer discretionary, energy and...