Rishi Sunak to become UK Prime Minister, investors uncertain on Xi Jinping’s 3rd term

Yahoo Finance's Akiko Fujita discusses global leadership news moving markets on Monday.

Video Transcript

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AKIKO FUJITA: Here's what we're watching at this hour. Coronation complete. Chinese President Xi Jinping secures a third term as leader, consolidating power, but investors give him the cold shoulder as greater China market sell off on economic uncertainty. Bracing for another tech wreck, Big Tech prepares to report quarterly results this week. The digital ad slowdown firmly in focus after SNAP'S freefall last week. And looking for stability, sterling gets a bump as the UK gets its latest Prime Minister, former chancellor Rishi Sunak, steps into 10 Downing Street as fresh data points to a deep downturn.

First, let's check in on the market action, though. We are 90 minutes into the trading day right now. A bit of a split picture. Obviously, the NASDAQ is going to be the big focus of the week with those big tech earnings on tap. It is down about 26 points right now. The Dow up 256 points, though, and the S&P 500 up 20. We're also watching the bond yields closely here.

We're talking about a bit of a pullback last week on potentially a Fed pivot. But we are seeing those yields back up today. Take a look at the 10-year yield at 428. The 30-year yield now well above 4.4%