Before the opening bell on Monday, major US stock indices were showing a downward trend as traders anticipate important inflation data later this week. The Standard & Poor's 500 index fell by 1.1%, while the Dow Jones Industrial Average decreased by 0.9%. The Nasdaq also experienced a decline of 1.2% in premarket trading.
In Asian markets, sentiment was mixed to lower, adding to the cautious atmosphere, while midday trading in European stock indexes reflected a generally negative sentiment, tracking in the red. As Monday unfolds without any scheduled economic reports, investors are keenly focused on upcoming data. The consumer price index for February is expected to be released on Wednesday, followed by the producer price index for the same month on Thursday.
These indicators are crucial as they provide insights into inflation trends, which significantly affect market movements. Several companies are set to announce their latest financial results ahead of the bell. Companies such as Franco-Nevada, BioNTech, NET Power, and Willis Lease Finance are among those expected to report.
In after-hours trading, Oracle and Vail Resorts will be releasing their earnings, attracting attention from market participants eager for insights into performance metrics. In terms of stock performance, shares of tech giant Apple saw a decline of 1.4% before the market opened. Nvidia's stock slipped by 2.7%, while Tesla's shares dropped by 3.4%.
In the retail space, Amazon.com also faced a decrease, with its shares down by 1.7%. Shifts in other markets included bitcoin, which edged down by 0.8% to $81,996. Meanwhile, West Texas Intermediate crude oil rose slightly by 0.1%, reaching $67.07 per barrel. In bond markets, yields on 10-year Treasuries fell by 7.1 basis points to 4.25%.
Gold also experienced a slight decline, moving 0.2% lower to $2,907 per ounce. Overall, the market is bracing for significant data releases that could influence investor strategies and market sentiment in the coming days..