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U.S. stock futures lower as U.S. Treasury yields move higher; pressure on tech stocks is weighing on Nvidia (NVDA) and Tesla (Tesla) shares were lower in pre-market trading; Apple (AAPL) Inventories are falling as global iPhone sales drop; U.S. Steel (X) shares higher after U.S. government extends deadline for Nippon Steel to drop merger proposal; and Constellation Energy (CEG) shares fell after Friday’s $26.6 billion deal to acquire rival Calpine sent shares soaring.

1. U.S. stock futures lower as traders lose hope on rate cuts

U.S. stock futures lower Markets fall for second straight weekand Nasdaq Futures fell 1%, S&P 500 Index Futures fell 0.6%, and Dow Jones Industrial Average Futures were slightly lower. Markets fell on Friday when Employment report stronger than expected weak investor Hope the Fed cuts interest rates. Investors are investing this week in Inflation data, bank earnings and Fed speech. Bitcoin (Bitcoin USD) fell 4%, falling below $91,000, while the 10-year Treasury yield rose to nearly 4.8%. Oil futures rose nearly 2%, while gold futures fell about 1%.

2. Nvidia and Tesla stock prices fell as rising U.S. Treasury yields hit technology stocks

Technology stocks were lower in premarket trading amid pressure from rising Treasury yields. NVIDIA (NVDAThe company’s shares fell 3% after HSBC lowered its price target to $185 from $195. Tesla (Tesla) in stock, Downgraded by Bank of America last weekalso dropped by about 3% Bloomberg Europe’s largest pension fund sold its stake in the electric car maker, reports said.

3. Global iPhone sales decline, Apple stock price falls

apple(AAPL) The stock fell about 1% in premarket trading after Counterpoint Research reported The company’s global smartphone market share slips With iPhone sales down 5% year-over-year in the fourth quarter, that number will drop one percentage point to 18% in 2024. Last year, Apple’s global smartphone sales fell by 2%, while the overall market grew by 4%. iPhone 16 series Counterpoint said it received “mixed response, partly due to the lack of availability of Apple Intelligence at the time of launch.”

4. Nippon Steel deadline extended, U.S. steel stocks rise

U.S. Steel Stocks (XNippon Steel rose 4% in pre-market trading after the U.S. government extended a deadline for Japan’s Nippon Steel to abandon its merger agreement with U.S. steelmakers. wall street journal reported. The extension comes after President Joe Biden Executive order blocking controversial dealciting concerns about U.S. jobs. The companies later filed a lawsuit against the White House to keep the deal alive.

5. Constellation Energy shares retreat after surge on Calpine trade

Constellation Energy (CEG) shares is the focus The company agreed to acquire rival Calpine for $26.6 billion, a deal it said would create America’s largest clean energy provider. The news sent Constellation shares soaring 25% on Friday, although the stock fell about 1.5% in premarket trading. Constellation Energy’s shares have more than doubled in the past year as of Friday’s close, helped by rising power demand Meet Artificial Intelligence (AI) Computing resources.