Monday’s Mid-Day Movers: 3 Stories Driving Markets

The U.S. equity markets gave up pre-market gains to trade in negative territory by Monday afternoon. Concern is building that the markets, flirting on and off with five-year highs, are overbought and could face bursts of sharp downturns.

At 12:45 p.m.: DJIA: -0.23%, S&P 500: -0.10%, NASDAQ: -0.24%.

Here are three stories moving markets on Monday afternoon:

1) President Barack Obama will deliver his State of the Union address on Tuesday evening, and a majority of Americans think he should set either the U.S. economy or the federal deficit as his top priority. A new Quinnipiac University national poll indicates that the economy and the deficit are more important than any other leading issue, including gun control and healthcare.

The poll breaks down responses by political affiliation, which reveals — perhaps unsurprisingly — that Democrats and Republicans are fundamentally split over the deficit… (Read more.)

Here’s a breakdown of the results respondents gave when answering what they were most interested in hearing about in the State of the Union Address.

Total Republican Democrat Independent
Economy 35% 32% 38% 21%
Federal Deficit 20% 30% 12% 21%