U.S. Stock Futures Are Lower Following a Highly Volatile Month Driven by Rising Treasury Yields
U.S. stock futures are lower: Markets are expected to exit January with losses, following a highly volatile month driven by rising treasury yields. As of Friday, the S&P and Nasdaq composite are down 7% and 12%, respectively, for the month of January. Friday’s employment report will be the major economic release and might grant further insight into omicron’s impact on new hirings. Earnings season continues with big tech and auto companies reporting this week. While generally companies have exceeded expectations, investors will be focused on 2022 estimates and how corporations will efficiently manage elevated input costs and its bearing on pricing and margins. Yields on 10y & 30y are ticking up after closing lower on Friday. European markets are trading higher as the Russian forces are amassing near the Ukrainian border. U.S lawmakers are expected to pass sanctions against Russia and its top inner leadership circle. Asian markets closed mainly mixed.