Stock futures experienced a slight rise on Monday night as investors eagerly anticipated the upcoming earnings reports from major tech companies. Futures tied to the Dow Jones Industrial Average saw a gain of 58 points, or 0.2%, while S&P 500 futures and Nasdaq 100 futures also climbed 0.2%. The market moves come after a mixed session on Wall Street, with the focus shifting to the U.S. 10-year Treasury yield, which crossed the closely watched 5% milestone last week for the first time since 2007.

The recent rise in yields has been causing concern about the overall state of the economy and applying pressure on the stock market in recent weeks. Terry Sandven, Chief Equity Strategist at U.S. Bank Asset Management, commented, "Equities are trending sideways to being in a retreat mode given persistent inflation and higher-for-longer interest rates. The prospects for recession loom on the horizon."

Despite the downward trend, the technology-heavy Nasdaq Composite managed to end Monday's session on a positive note, finishing up approximately 0.3%. Investors seized the opportunity to buy into the tech sector, driven by the anticipation of major earnings reports coming up. Notable companies such as Spotify, General Motors, and Coca-Cola are scheduled to report their earnings on Tuesday before the market opens. Later in the week, investors will also be closely monitoring earnings reports from Alphabet, Microsoft, Meta, Amazon, IBM, and Intel, among others.

This week marks an important phase of the earnings season, with around 30% of S&P 500 companies expected to report their quarterly results. So far, the earnings season has outperformed Wall Street's expectations, with approximately 17% of S&P 500 companies already reporting. Of those, three-quarters have exceeded analysts' earnings expectations, demonstrating a positive trend in corporate performance.

In addition to earnings reports, traders will also be keeping a watchful eye on economic data scheduled for release on Tuesday morning, which will provide insights into the services and manufacturing sectors.

After hours, there were notable movements in various stocks. Redfin, the real estate company, saw a surge of 12% in its share price after announcing that funds managed by Apollo Capital and affiliates have agreed to commit up to $250 million through a loan. On the other hand, electronic system designer Cadence Design Systems experienced a 4% drop following weak guidance for the current quarter's earnings per share. However, the real estate trust KKR Real Estate Finance Trust gained 3.5% after distributable earnings per share notably surpassed expectations in the third quarter.

Overall, the stock market is eagerly anticipating the tech earnings reports, which are expected to provide crucial insight into the current state and future prospects of the tech sector.