news/AMZN/2023.02.10/Futures fall amid rising yields; Lyft sinks on dour profit outlook.txt

Wall Street's main stock indexes were set to clock declines at the end of a week dominated by hawkish commentary from U.S. Federal Reserve officials, as more than half of the companies on the S&P 500 index wrap up quarterly earnings.The Nasdaq Composite eyed its first weekly fall this year, tracking declines of nearly 2%.Yield on the benchmark 10-year Treasury note rose to its highest level in more than a month, last at 3.69%, up 2.9 basis points. U.S. stock indexes fell in the previous session as Treasury yields gained after an auction of 30-year bonds went poorly. [US/]Rate-sensitive growth companies led declines in premarket trading on Friday, with Apple Inc, Amazon.com Inc, Microsoft Corp, Tesla Inc and Alphabet Inc down between 0.2% and 2.8%.Rising Treasury yields put valuations of growth stocks under pressure, which was also a recurring theme for 2022.Lyft Inc plummeted 32.9% after it also lowered prices, raising concerns it was falling behind bigger rival Uber Technologies Inc. Uber shares dropped 3.7%.At 5:59 a.m. ET, Dow e-minis were down 60 points, or 0.18%, S&P 500 e-minis were down 15 points, or 0.37%, and Nasdaq 100 e-minis were down 97.75 points, or 0.79%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)