U.S. stock futures fell again on Monday after Friday’s rally, as benchmark indices hovered around the correction zone. Futures of all four benchmark indices declined in premarket trading.

Investors will focus on the Federal Open Market Committee’s decision on interest rates slated to be released on Wednesday this week. The meeting will begin on Tuesday and Chairman Jerome Powell will address a press conference on Wednesday afternoon.

February’s retail sales data will be released today before the market opens. President Donald Trump‘s tariff negotiations continue as traders wait for “reciprocal tariffs” which go into effect on April 2nd.

Meanwhile, Treasury Secretary Scott Bessent said Sunday that the Trump administration is working to prevent a financial crisis caused by years of excessive government spending.

"I can guarantee we would have had a crisis if spending had continued at unsustainable levels," Bessent said on NBC's Meet the Press. "We are resetting and putting things on a sustainable path.”

The 10-year Treasury yield stood at 4.29%, while the two-year yield was at 4.01%. According to the CME Group's FedWatch tool, there is a 99% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.

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, dropped in premarket on Monday. The SPY was down 0.39% to $560.64, and the QQQ also declined 0.41% to $477.70, according to Benzinga Pro data.

Cues From The Last Session

On Friday, Technology, energy, and financials led a Friday surge in U.S. stocks, with the S&P 500 rising over 2%.

Big tech shares, particularly Nvidia Corp. (NASDAQ:NVDA) and Tesla Inc. (NASDAQ:TSLA), rebounded strongly, though overall stocks, including the Dow and S&P 500, recorded weekly losses.

Conversely, consumer sentiment, as measured by the University of Michigan, fell to its lowest point since November 2022.

As of Friday’s close, the S&P 500 index was 8.27% down from its previous high, which followed a bounce from Thursday’s 10.18% drawdown. Similarly, the Nasdaq 100 was 11.33% lower and Dow Jones was down 7.95% from its 52-week high as of Friday.

Insights From Analysts

The CEO of Creative Planning, Peter Mallouk in an X post highlighted that over the last 75 years, the intra-year market drop has been 14% on average.

“Downside volatility is the price investors pay for long-term outperformance,” he added.

Mallouk further reiterated that market pullbacks are common and a complete recovery is inevitable over time. “Stay calm and stick with your long-term plan,” he said.

Ryan Detrick of Carson Research also highlighted the historical data and underlined this was the fastest period of correction for the S&P 500 after scaling a fresh high on Feb. 19. It just took the index 16 days to slip into the correction territory.

Additionally, Detrick underscored that the S&P 500 has slid into a correction zone for 12 times since 1950 without going into a bear market.

According to the Panic/Euphoria analysis model shared by Jay Kaeppel, the senior market analyst at SentimenTrader, the S&P 500's decline was still not flashing a buy signal. However, from this point, investors could “Start looking for a buy signal,” at the current levels.

See Also: How to Trade Futures

Upcoming Economic Data

Here’s what investors will keep an eye on this week:

• On Monday, February’s U.S. retail sales and March’s Empire State manufacturing survey will be released at 8:30 a.m., ET.

• January’s business inventories data and March’s homebuilder confidence index data will be out by 10:00 a.m., ET.

• On Tuesday, February’s housing starts, building permits, and import price index data will be announced at 8:30 a.m., ET.

• Also, February’s industrial production and capacity utilization data will be released at 9:15 a.m., ET.

• On Wednesday, FOMC will announce its decision on interest rates at 2:00 p.m., and Federal Reserve Chairman Jerome Powell will address a press conference at 2:30 p.m., ET.

• On Thursday, the initial jobless claims data for the week ended March 15 and the Philadelphia Fed manufacturing survey data for March will be out by 8:30 a.m., ET.

• February’s existing home sales and U.S. leading economic indicators data will be released by 10:00 a.m., ET.

• No data is scheduled to be released on Friday this week.

Stocks In Focus:

• Science Applications International Corp. (NASDAQ:SAIC) was up 1.51% in premarket on Monday as it is expected to report before the opening bell. Analysts expect earnings of $2.08 per share on revenue of $1.81 billion.

• Getty Images Holdings Inc. (NYSE:GETY) advanced 2.45% as Wall Street expects it to report earnings of 4 cents per share on revenue of $246.31 million after the closing bell.

• Consolidated Water Co. Ltd. (NASDAQ:CWCO) rose 0.24% as it is expected to report after the closing bell. Analysts expect earnings of 28 cents per share on revenue of $33.60 million.

• Castellum Inc. (NYSE:CTM) slumped 20.64% after announcing the price of $4.5 million worth of proposed public offering of common stock and warrants at $1 per unit.

• Gogo Inc. (NASDAQ:GOGO) plunged 26.97% after reporting a fourth-quarter EPS loss of $0.22, significantly below the $0.0567 forecast, but exceeded revenue expectations with $137.8 million versus the projected $97.28 million.

• Eagle Bancorp Montana Inc. (NASDAQ:EBMT) dropped 16.91% after disclosing a material weakness in internal controls regarding borrowing classifications in cash flow statements, posing risks of financial misstatements, reputational damage, reduced investor confidence, and potential legal and regulatory issues.

Commodities, Gold And Global Equity Markets:

Crude oil futures were trading higher in the early New York session by 1.03% to hover around $67.60 per barrel.

The gold spot index was up by 0.28% to $2,990.85 per ounce. Its last record high was at $3,005.08 per ounce. The Dollar Index was unchanged at the 103.719 level.

Most Asian markets closed higher on Monday except China’s CSI 300 index. On the other hand, Japan's Nikkei 225, South Korea's Kospi, Australia's ASX 200, Hong Kong's Hang Seng, and India's S&P BSE Sensex advanced. European markets were higher in trade.

Read Next:

• Warren Buffett Plans To Sell His Real Estate Brokerage, But It’s ‘Not… A Bet Against US Home Prices,’ Says Analyst As Fed Expects To Keep Rates Unchanged

Photo courtesy: Shutterstock