By Oliver Gray
Investing.com -U.S. stock futures were trading higher in early APAC deals on Monday after major benchmark indices finished the week in the red as market participants remained cautious amid escalations of conflict in Ukraine, while the Federal Reserve is widely expected to raise its target funds rate on Wednesday for the time since 2018.
During Friday’s session, the Dow Jones Industrial Average fell 229.88 points or 0.69% to 32944.2, the S&P 500 lost 55.19 points or 1.3% to 4204.32 and the NASDAQ Composite fell 286.15 points or 2.18%. For the week, major averages declined 2%, 2.9% and 3.5% respectively.
Dow Jones Futures were up 0.7%, S&P 500 Futures gained 0.69% and Nasdaq 100 Futures added 0.61%.
Among stocks, technology companies suffered amid risk-off trade on Friday, with Block Inc (NYSE:SQ) falling 6.37%, Amazon.com Inc (NASDAQ:AMZN) down 0.88%, Microsoft Corporation (NASDAQ:MSFT) falling 1.93%, Meta Platforms Inc (NASDAQ:FB) shedding 3.89%, Apple Inc (NASDAQ:AAPL) declining 2.39% and Alphabet Inc (NASDAQ:GOOGL) down 1.93%.
EV makers were down, with Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN) and Lucid Group Inc (NASDAQ:LCID) down 5.12%, 7.56% and 5.33% respectively.
Financials were lower with JPMorgan Chase & Co (NYSE:JPM) down 2.25%, Citizens Financial Group Inc (NYSE:CFG) falling 0.85%, Bank of America Corp (NYSE:BAC) down 0.84%, Citigroup Inc (NYSE:C) losing 1.31%, Wells Fargo & Company (NYSE:WFC) declining 1.1%, Morgan Stanley (NYSE:MS) dipping 0.79% and Goldman Sachs Group Inc (NYSE:GS) down 0.88%.
On the bond markets, United States 10-Year yields were at 1.997%.
Ahead in the week, in investors will be looking ahead to the U.S. Federal Reserve's interest rate decision on Wednesday which expected to deliver the first increase in the fed funds rate since 2018. Investors will also be closely watching fresh economic and interest rate projections. Meantime, producer prices, consumer inflation expectations, retail sales, industrial production, the NAHB housing index, building permits and housing starts and existing home sales are also scheduled to be released throughout the week.