By Oliver Gray
Investing.com - U.S. stock futures were lower in early APAC trade on Monday, following declines in the previous week as bond yields rose after minutes from the Fed’s December meeting released last Wednesday showed that the central bank is planning to shrink its balance sheet in addition to hiking rates.
Last week, the Dow finished down just 0.3%. S&P 500 ended the week at 4677, down 1.9%. Nasdaq Composite down 4.5% for the week.
Dow Jones 30 Futures fell 0.36%, S&P 500 Futures were down 0.35% and Nasdaq 100 Futures shed 0.32%.
During Friday’s session, most technology names continued to retreat as Block Inc (NYSE:SQ) lost 2.16%, Amazon.com Inc (NASDAQ:AMZN) dipped 0.43%, Alphabet Inc (NASDAQ:GOOGL) lost 0.53%, Meta Platforms Inc (NASDAQ:FB) fell 0.2%, NVIDIA Corporation (NASDAQ:NVDA) shed 3.3%, while Apple Inc (NASDAQ:AAPL) added 0.1%, Microsoft Corporation (NASDAQ:MSFT) lifted 0.05%,
Meantime, Tesla Inc (NASDAQ:TSLA) dropped 3.54%, Rivian Automotive Inc (NASDAQ:RIVN) dipped 1.2% while Lucid Group Inc (NASDAQ:LCID) rallied 9.84%.
On the bond markets, United States 10-Year yields were near fresh 2-year highs of 1.764%.
Ahead in the week, investors will be focused on Fed Chair Jerome Powell's testimony before the Senate Banking Committee on Tuesday, consumer and producer price inflation data, and fourth quarter earnings results from Delta Air Lines Inc (NYSE:DAL), JPMorgan Chase & Co (NYSE:JPM), Citigroup Inc (NYSE:C) and Wells Fargo & Company (NYSE:WFC) ahead of the market open on Friday.