By Oliver Gray
Investing.com - U.S. stock futures were lower in early APAC deals on Monday, following a volatile week of trading as investors reacted to a red-hot inflation report and surging bond yields, while fears of a Russian attack on Ukraine also dampened risk appetite.
On Friday, the Dow tumbled 503.53 points or 1.43% to 34,738.07. The S&P 500 lost 85.42 points or 1.9% to 4,418.65 and the Nasdaq Composite shed 2.78% to 13,791.15. The declines came as the White House warned that a war in Ukraine could begin “any day now” and urged Americans there to leave “immediately.” For the week, The Dow and S&P 500 fell 1% and 1.8%, respectively. The tech-heavy Nasdaq Composite slid more than 2%.
Dow Jones Futures were flat at 34,740.03, S&P 500 Futures were down 0.11% and Nasdaq 100 Futures fell 0.29%.
Among stocks, technology companies resumed their declines on Friday, with Block Inc (NYSE:SQ) falling 0.97%, Amazon.com Inc (NASDAQ:AMZN) down 3.59%, Meta Platforms Inc (NASDAQ:FB) losing 3.74%, Apple Inc (NASDAQ:AAPL) down 2.02%, Alphabet Inc (NASDAQ:GOOGL) falling 3.13%, Adobe Systems Incorporated (NASDAQ:ADBE) down 4.25% and Advanced Micro Devices Inc (NASDAQ:AMD) dropping 1.01%.
EV makers suffered, with Tesla Inc (NASDAQ:TSLA) down 4.93%, Rivian Automotive Inc (NASDAQ:RIVN) falling 9.07% and Lucid Group Inc (NASDAQ:LCID) down 7.42%.
Financial heavyweights declined, as JPMorgan Chase & Co (NYSE:JPM) lost 1.3%, Citizens Financial Group Inc (NYSE:CFG) fell 0.96%, Bank of America Corp (NYSE:BAC) lost 2.3%, Citigroup Inc (NYSE:C) dipped 0.52% and Morgan Stanley (NYSE:MS) lost 2.79%.
On the bond markets, United States 10-Year yields dropped from last week’s 31-month highs to 1.915%.
In the week ahead, investors will be closely monitoring FOMC meeting minutes, retail sales, producer inflation and housing data. Earnings are also set to continue, with NVIDIA Corporation (NASDAQ:NVDA), Walmart Inc (NYSE:WMT), Shopify Inc (NYSE:SHOP), AMC Entertainment Holdings Inc (NYSE:AMC) and more scheduled to report.