President Donald Trump‘s nomination of Kevin Warsh to lead the Federal Reserve was followed by a sharp sell-off in Friday’s session.
Precious metals Gold and Silver also saw a sharp drop in their prices after a record-breaking rally in January.
Meanwhile, the 10-year Treasury bond yielded 4.22%, and the two-year bond was at 3.52%. The CME Group's FedWatch tool‘s projections show markets pricing an 85.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
Index
Performance (+/-)
Dow Jones
-0.29%
S&P 500
-0.58%
Nasdaq 100
-0.88%
Russell 2000
-0.55%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Monday. The SPY was down 0.61% at $687.75, while the QQQ declined 0.85% to $616.57.
Stocks In Focus
Walt Disney
Walt Disney Co. (NYSE:DIS) was 0.23% lower ahead of its earnings scheduled to be released before the opening bell. Analysts were expecting earnings of $1.56 per share on the revenue of $25.68 billion.
DIS maintains a stronger price trend over the short, medium, and long terms with a solid growth ranking, as per Benzinga's Edge Stock Rankings.
Strategy
Strategy Inc. (NASDAQ:MSTR) shares sank 7.15% as Bitcoin (CRYPTO: BTC) prices dropped below $78,000 per coin and Michael Saylor posted on X with the caption, "More Orange," suggesting Strategy may buy the latest dip.
Benzinga’s Edge Stock Rankings indicate that MSTR maintains a weaker price trend in the medium, short, and long terms with a poor value ranking.
