U.S. stock futures fell Monday amid global market declines, mixed tech performance, and ongoing rate cut expectations.

U.S. stock futures fell Monday after mixed Asian market results: Japan’s Nikkei 225 dropped nearly 2% on weak factory data, while China’s manufacturing sector contracted for the eighth month despite export gains. Hong Kong and Shanghai saw modest rises. Oil prices climbed over $1 per barrel, bitcoin fell 5.3%, and the dollar weakened. Last week’s U.S. rally, driven by expected Fed rate cuts and strong Black Friday sales up 9% year-over-year, tempered concerns that early retail gains may not extend into December.