March S&P 500 E-Mini futures are down -0.03%, and March Nasdaq 100 E-Mini futures are down -0.19%, signaling a muted open on Wall Street due to rising Treasury yields. Chinese regulators have instructed financial institutions to reduce their U.S. Treasury holdings, leading to a 4.24% rise in the 10-year T-note yield. Yields also climbed in Japan after a historic election victory. This week, investors will focus on U.S. economic data, Fed comments, and earnings reports. In Friday’s session, major equity averages closed higher, with chip stocks and cryptocurrency-exposed stocks rallying. Investors are buying the dip in stocks amid a sense on Wall Street that the selling has gone too far. Economic data showed an unexpected rise in U.S. consumer sentiment and an increase in consumer credit in December. Fed Vice Chair Philip Jefferson expressed cautious optimism about the U.S. economic outlook and inflation trends. Atlanta Fed President Raphael Bostic emphasized the importance of keeping inflation in check and downplayed recent negative labor market reports. U.S. rate futures indicate an 84.2% probability of no rate change at the March Fed meeting. This week, investors await delayed U.S. jobs and inflation data to gauge potential rate cuts. Corporate earnings season continues, with companies like Applied Materials and McDonald’s set to report. The Euro Stoxx 50 Index rose, led by defense, bank, and technology stocks. The Sentix index measuring Eurozone investor morale increased in February. Inpost S.A. surged after an acquisition announcement, while Novo Nordisk climbed on news of discontinued competition. Asian stock markets closed higher, with China’s Shanghai Composite up 1.41% and Japan’s Nikkei 225 up 3.89%. Japan’s Nikkei 225 hit a record high after Prime Minister Sanae Takaichi’s election win, signaling expectations of increased government spending. Takaichi’s victory will likely lead to fiscal stimulus and strategic reforms. Japan’s real wages declined for a 12th straight month in December. The Japanese Current Account and Economy Watchers Current Index came in stronger and weaker than expected, respectively. Pre-market U.S. stock movers include Micron Technology, Hims & Hers Health, Kroger, SoFi Technologies, and Oracle. Today’s U.S. earnings spotlight features companies like Apollo Global Management and Becton, Dickinson and Company.

Read more at Yahoo Finance: Stocks Set for Muted Open as Bond Yields Climb, Key U.S. Economic Data Awaited