Cubase Elements shouldn’t have VST Connections > Studios. There should be Inputs and Outputs only. Are you sure, you are not running Cubase 8 Pro Trial?
In Cubase Pro, your main output should be Monitor 1. All “Preview” outputs (like Preview from MediaBay, Import Audio, Sample Editor, etc.) are routed to this bus. If you are using Cubase Elements (and you really have Inputs and Outputs only), you should use Stereo Out, as your main output.