The decline follows a positive close across indices in Asia, with the Nikkei 225 breaking the 57,000-point barrier for the first time, fueled by Prime Minister Sanae Takaichi‘s landslide election victory and a high-profile endorsement from President Donald Trump.
Investors will be on the lookout for a slew of economic data that will be released this week, along with earnings from Coca-Cola Co. (NYSE:KO), McDonald’s Corp. (NYSE:MCD), Ford Motor Co. (NYSE:F), and T-Mobile US Inc. (NASDAQ:TMUS).
Meanwhile, the 10-year Treasury bond yielded 4.22%, and the two-year bond was at 3.50%. The CME Group's FedWatch tool‘s projections show markets pricing an 84.2% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
Index
Performance (+/-)
Dow Jones
-0.12%
S&P 500
-0.37%
Nasdaq 100
-0.63%
Russell 2000
-0.33%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Monday. The SPY was down 0.33% at $688.35, while the QQQ declined 0.63% to $605.80.
Stocks In Focus
Strategy
Strategy Inc. (NASDAQ:MSTR) continued its drop, falling 3.65% in premarket on Monday, following its earnings last week. It reported a massive $12.4 billion net loss (or ~$42.93 per share), driven by mark-to-market Bitcoin declines, far worse than expectations and contributing to heavy stock selling.
MSTR maintains a weaker price trend over the short, medium, and long terms with a poor value ranking, as per Benzinga's Edge Stock Rankings.
STMicroelectronics
STMicroelectronics NV (NYSE:STM) jumped 5.93% after securing a multibillion-dollar deal with Amazon.com Inc.‘s (NASDAQ:AMZN) cloud-computing arm AWS.
STM maintains a stronger price trend over the short, medium, and long terms, with a poor quality ranking, as per Benzinga's Edge Stock Rankings.
