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U.S. stock futures were mixed in early trading on Monday, while Treasury yields and the dollar held steady at multi-month highs, as investors began the week on a cautious note, with the risk of inflation and political uncertainty weighing on global markets.
stocks ended sharply lower on Friday, with the S&P 500 posting its biggest single-day drop in more than two weeks, after a firmer-than-expected reading for October retail sales added to concerns about a resurgence of inflationary pressures.
Last week's data, which included higher-than-expected readings for consumer and factory inflation as well as hawkish interest rate comments from Federal Reserve Chair Jerome Powell, added to the broader angst. of the market that economic policies, immigration and trade agenda would further fuel pressures on domestic prices.
This has led investors to reduce their bets on a December cut in interest rates, which are now set at around 62%, according to CME Group's FedWatch, and has pushed benchmark Treasury yields up to highest level since early July.
Benchmark 10-year bonds were last fixed at 4.461% at the start of the New York trading session, while 2-year bonds changed hands at 4.306%.
The US dollar index, which tracks the greenback's performance against a basket of six global currencies, rose 0.02% to 106.702 after hitting a nearly two-year high late last week.
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On Wall Street, stocks are headed for a mixed open ahead of a relatively light week of earnings and data, with Nvidia standing out. (NVDA) Third quarter earnings after close of business Wednesday and a key look at the retail sector from Walmart reports (WMT) and objective (TGT) .
The S&P 500 price is forecasting a modest 5-point opening gain in the futures market. The Dow Jones Industrial Average is down 130 points thanks in part to a 1.9% drop for Nvidia tied to a report that its Blackwell GPUs have caused servers to overheat in certain customers.
Meanwhile, the tech-focused Nasdaq has an 80-point opening price gain on Tesla. (TSLA) rising 8.35% following a Bloomberg report suggesting that easing rules for autonomous vehicles will be a priority for Trump's new Department of Transportation.
Spiritual airlines (SAVE) The stock was also in the spotlight after the discount airline filed for Chapter 11 bankruptcy protection following months of losses and mounting debt stemming from its failed merger with JetBlue Airways. (JBLU) .
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In overseas markets, Europe's Stoxx 600 was down 0.11% in midday trading in Frankfurt, while Britain's FTSE 100 was up 0.21% in London.
Overnight in Asia, Japan's Nikkei 225 closed down 1.09% in Tokyo and the MSCI regional benchmark excluding Japan fell 0.19% in close trading.
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