US stock futures drifted lower early Monday as investors reacted to fresh pressure in the bond market and a cautious global outlook. Dow futures fell 191 points to 47,552.00. S&P 500 futures dropped 37 points to 6,822.50. Nasdaq futures slipped 171.50 points to 25,310.50. All three indices pointed to a weaker open as Treasury yields hovered near 4.04%, signaling tight financial conditions ahead of next week’s Federal Reserve decision. Trading remained thin but volatile.
Pre-market action showed sharp moves in heavily watched names. NIO slid 4% to $5.28 on more than a million shares traded. Nvidia eased 1.05% to $175.15 as semiconductor sentiment weakened. Crypto-linked stocks also declined, with Bitfarms down 7.18% to $3.23 and BitMine Immersion off 6.10% to $31.10. Some pockets of strength emerged. INVO Fertility jumped 16.70% to $2.62.
At the same time, traders now assign an 87% probability that the Fed will cut rates next week. A cut would make mortgages, auto loans, and credit card rates less expensive. It could also support real estate, utilities, and other sectors that depend on cheaper financing. But the latest yield spike is raising doubts about how aggressive the Fed can be, keeping pressure on rate-sensitive tech companies.
Global data is adding more uncertainty. China’s factory and services activity both slipped below 50, signaling contraction. Investors are now asking whether a single Fed rate cut can offset weakening global demand.
Twin Vee PowerCats gained 7.34% to $2.78. Nokia rose 1.48% to $6.17. Investors are now positioning for a heavy week of earnings from major tech and cloud companies and watching whether rising yields will limit the impact of a widely expected Fed rate cut. Markets remain sensitive as global data softens and sector rotations intensify before December trading picks up.
Dow, S&P 500, Nasdaq futures signal a weak open
Futures across all major US indexes are pointing to a softer start. The Dow is down 0.40%, while the S&P 500 is lower by 0.54%. Nasdaq futures are under more pressure, falling 0.67%, reflecting weakness in high-growth tech names.
Investors are watching how Treasury yields will influence equity sentiment through the week. Higher yields raise borrowing costs and often reduce appetite for risk-heavy sectors. With traders assigning strong odds to a Fed rate cut next week, futures markets remain volatile as investors search for direction.
Pre-market movers: NIO slips, Nvidia eases, INVO Fertility jumps
Several heavily watched stocks are showing sharp moves before the opening bell.
NIO traded at $5.28, down 4.00%, with more than 1 million shares exchanged. The EV maker continues to face pressure amid concerns over China’s economic slowdown and domestic competition.
NVIDIA (NVDA) slipped 1.05% to $175.15 in early trading with 510,000 shares changing hands. The chip giant remains in a wide 52-week range of $86.62 to $212.19, reflecting elevated volatility in the AI and semiconductor space.
Intel (INTC) surged 10.19% after CEO Pat Gelsinger downplayed TSMC trade-secret accusations, easing legal concerns.
Circle Internet Group (CRCL) jumped 10.04%.
Credo Technology Group (CRDO) gained 8.29%.
On the downside, Symbotic (SYM) fell 4.04% as Barclays raised its price target but maintained an Underweight rating.
AngloGold Ashanti (AU) slipped 3.63%.
Eli Lilly (LLY) dropped 2.61% after Medicare secured deeper discounts on rival diabetes drugs, raising price-pressure concerns.
Crypto-linked names were also weaker. Bitfarms (BITF) fell 7.18% to $3.23, while BitMine Immersion Technologies (BMNR) dropped 6.10% to $31.10. Both names saw active trading as Bitcoin consolidation adds uncertainty to mining profitability.
On the upside, INVO Fertility (IVF) surged 16.70% to $2.62 on volume of 463K. Twin Vee PowerCats (VEEE) gained 7.34% to $2.78. Nokia (NOK) also edged higher, rising 1.48% to $6.17, continuing a recent rebound within its $4.00 to $8.19 one-year range.
How bond yields and Fed expectations are shaping US stock futures
Rising yields continue to challenge equity sentiment. A 4.04% 10-year yield increases financing costs and tightens conditions across the economy. Yet confidence in a near-term Fed cut is strong as inflation cools.
This tug-of-war is keeping futures mixed and volatility elevated as markets position for the December rate decision.
China’s slowdown adds pressure on global and US sectors
Fresh PMI readings show China’s manufacturing and services sectors both contracting. The numbers point to persistent economic strain heading into 2026.
For US investors, this matters. Exporters, semiconductor suppliers, and commodity-linked companies face demand risks. At the same time, domestic sectors tied to cheaper borrowing may outperform if the Fed delivers a cut.
Big earnings on deck for tech and cloud giants
A busy earnings slate will set the tone for markets this week.
CrowdStrike (CRWD) reports Tuesday, offering a key test for cybersecurity spending after a volatile quarter.
Snowflake (SNOW), Salesforce (CRM), and Pure Storage (PSTG) report Wednesday, giving fresh insight into cloud demand heading into 2026.
MongoDB (MDB) releases Q3 results late Monday, with investors assessing AI-related database workloads.
Markets are also watching ISM Manufacturing PMI on Monday, which will signal whether US factory activity is stabilizing. Fed Chair Jerome Powell’s Tuesday speech could influence bond yields and expectations for next week’s rate decision.
Volatility often disguises value. Lower borrowing costs could benefit real estate, utilities, regional banks, and smaller companies that rely on debt markets.
Income investors may also find opportunities in dividend stocks with yields above 3%, especially those with strong balance sheets and stable cash flows. These names could outperform if rates fall and bond yields retreat.