U.S. stock futures fell as the 30-year Treasury yield climbed to about 5.31%-5.33%, its highest level since 2004, amid a broader rise in global long-term government bond yields. Analysts and investors cited sticky inflation concerns, widening fiscal deficits, heavy sovereign issuance, a shift toward more price-sensitive private buyers and AI-related corporate borrowing as drivers of the selloff. Higher yields weighed on long-duration bonds and rate-sensitive equities, including 5%-7% drops in memory and storage shares Micron, SanDisk and Western Digital, though some pension funds, insurers and asset managers said higher nominal and real yields could attract fresh demand. Home Depot rose after beating second-quarter expectations and reaffirming fiscal 2026 guidance, even as CFO Richard McPhail described housing conditions as a "frozen housing market."