Stock Groups

3 Things to Watch -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com – Stocks staged a remarkable comeback on Thursday, plunging at the open after Russia invaded Ukraine and then turning around to end strongly higher after President Joe Biden announced new sanctions.

Russian forces invade Ukraine, Reuters reports. It was the most serious attack on a state in Europe since World War II, with land, air and sea strikes.

Although oil prices rose above $100 per barrel, they fell back to $90 per barrel. Weekly jobless claims fell more than anticipated and economic growth accelerated faster than predicted.

Although earnings season is over, there will be some economic reports out on Friday. These include a gauge for inflation that the Federal Reserve uses when deciding interest rates.

It is possible that the Fed will be less aggressive in raising rates in response to Ukraine’s war. This could happen when it meets in March.

Three things could impact the markets in tomorrow’s future:

1. Oil prices

The Energy Information Administration reported that the U.S. saw a rise in crude oil inventories, which was higher than anticipated. Last week, crude inventories rose by 4.515million barrels.

This is the last time The Sept. 9th 2014 session saw oil prices rise to or surpass $100 per barrel. In Thursday’s session, the global benchmark for oil rose to as high as $102.23 after Vladimir Putin directed the full force of Russia’s invasive power at his neighbor.

2. Personal Spending

For January, which is the following holiday season, the U.S. will report. Analysts tracked by Investing.com are forecasting personal spending to grow 1.6% from the prior month, beating December’s reading of negative 0.6%.

3. Income from personal sources

Also, the report will come out Friday at 8:30 ET. The personal income is expected to fall 0.3% below what was previously reported at 0.3%.

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