Stock futures moved lower on Monday ahead of the last few trading sessions of 2024. Futures tied to the Dow Jones Industrial Average fell 422 points, or about 1%. S&P 500 futures dropped 1.2%, and Nasdaq-100 futures shed 1.4%. There was no apparent news catalyst for Monday’s decline and trading was expected to be light given the shortened week. The major averages are heading into the yearend shy of record levels, with the S&P 500 and Dow up more than 25% and 14%, respectively, and on track for the best year since 2021. The Nasdaq has gained more than 31% in 2024. The benchmarks are also headed for a winning fourth quarter, with the Nasdaq on pace for its longest quarterly winning streaking since 2021. However, some worries have mounted that the market may be losing momentum, with some year-end profit taking after the major averages notched losing sessions Friday. Large tech stocks were struggling again in premarket trading on Monday, with shares of Nvidia and Amazon each falling more than 1%. “I think it’s long overdue,” Tavis McCourt, institutional equity strategist at Raymond James told CNBC’s “Closing Bell” on Friday. “I would expect more as we get into January. We’ve had a tremendous amount of momentum into a narrow subset of names for the previous month.” Trading in the bond market could also be contributing to the pullback in tech stocks. The 10-year Treasury yield traded above 4.6% last week, though it retreated on Monday morning. Investors are hoping that stocks will find their footing again and trigger what’s known as a Santa Claus Rally. The phenomenon refers to the market rising into the final five trading days of a calendar year and the first two in January. The S&P 500 has returned 1.3% on average during this period since 1950, according to LPL Financial. This week ushers in a light period for economic data, with the market closed Wednesday in observance of New Years Day. Chicago PMI and pending homes sales data are due out Monday. U.S. Treasury yields were slightly lower on Monday as the final trading days of the year got underway. Shortly after 7 a.m. ET, the yield on the 10-year Treasury was down by about 3 basis points at 4.591%, trading just below multimonth highs recorded last week. The 2-year Treasury yield was last trading at 4.297% after dipping by about 3 basis points. Asia-Pacific markets were mixed on the penultimate trading day of this year, after Wall Street declined on Friday. South Korea’s Kospi declined 0.22% to close at 2,399.49, as the country grapples with political turmoil and downbeat industrial data, among other things. The small-cap Kosdaq, however, added 1.83% to end the trading day at 678.19. Japan’s Nikkei 225 dropped 0.96% to close at 39,894.54, while the Topix was fell 0.60% to close at 2,784.92. Hong Kong’s Hang Seng Index was down 0.2% as of its last hour of trade, while mainland China’s CSI 300 climbed 0.45% to close at 3,999.06. Australia’s S&P/ASX 200 traded 0.32% lower to close at 8,235. Oil prices edged up on Monday in thin holiday trade at the end of the year, as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world’s two largest oil consumers. Brent crude futures rose 20 cents to $74.37 a barrel. The more active March contract was at $74.00 a barrel, up 21 cents. U.S. West Texas Intermediate crude gained 20 cents to $70.80 a barrel. Gold prices held steady in thin trade on Monday, as markets awaited next week’s U.S. economic data and the potential impact of President-elect Donald Trump’s return to office on the Federal Reserve’s 2025 outlook. Spot gold was up less than 0.1% to $2,622.21 per ounce. U.S. gold futures gained nearly 0.2% to $2,635.4.