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Stock futures inch lower as Russia-Ukraine tensions weigh

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U.S. stock futures fell slightly during Wednesday night trading, but the major averages ended the day higher. escalating tensionsRussia and Ukraine

Futures contracts that are tied to Dow Jones Industrial Average dropped 47 points. S&P 500 futures shed 0.17%, while Nasdaq 100 futures dipped 0.3%.

In regular trading WednesdayA close 600 point gain, or 1.79 percent, saw the Dow end a 2-day losing streak. The S&P 500 gained 1.86%, while the Nasdaq Composite added 1.62%. The tech-heavy index saw its fourth positive session within the past five.

Wednesday’s rally was broad based, with all eleven S&P 500 sectors advancing. Visa was the only Dow component to fall, while the 29 benchmark stocks finished the day green. Caterpillar, which rose more than 5%, was the biggest gainer.

Recent sessions have seen volatility in markets as investors evaluate the risks for U.S. economic growth resulting from Russia’s invasion of Ukraine.

“The Ukrainian situation remains fluid. Scott Wren from Wells Fargo Investment Institute, Senior Global Market Strategist, stated that while we don’t know the exact bottom, the U.S. will continue to experience above-average growth.

All three major averages fell more than 4 percent over the month despite Wednesday’s rise, while the Nasdaq Composite is still in correction territory. Oanda’s senior market analyst Ed Moya stated that volatility is here to stay.

He said that risk appetite would not fully return until the end of the Ukraine war is near. Moya said that Wall Street would like to move away from defensive tactics and avoid overspending on utilities, healthcare, and stocks of consumer staples.

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Even though oil prices continue to rise, Wednesday’s market strength was strong. That is contributing towards inflation fears in the entire economy. West Texas Intermediate crude futuresThe U.S.’s oil benchmark was named. $112 per barrelWednesday session: A price that was last seen in May 2011,

In the midst of rampant inflation Federal Reserve Chairman Jerome PowellHe said that he was committed to relieving cost pressures by increasing rates, even though there is uncertainty in Ukraine.

He said, “We’re not going to add uncertainty to what is already extraordinarily challenging” during questioning by House Financial Services Committee Members.

He said, “To the extent inflation rises or persists higher than this, we would be willing to take more aggressive action by increasing the federal funds rates by more than 25 basis point at any meeting.” Tomorrow Powell will be back before the Senate Banking Committee.

Refer to the benchmark yield U.S. 10-year TreasuryAfter dipping to 1.7% in the previous session, Wednesday’s advance was about 1.9%.

An incredibly strong private payrolls reportWall Street also saw a rise in sentiment Wednesday. According to Dow Jones estimates, Thursday will see weekly jobless claims posted. Economists expect a print out of 225,000.

The report comes before Friday’s much-awaited jobs report. The economists expect 440,000 additional jobs in the next month. An indicator of January’s economic activity was the following: increase of 467,000.

Services PMI, ISM Services readings also available Thursday morning

Many retailers, such as Big Lots, BJ’s Wholesale and Burlington Stores, are expected to report earnings before the bell rings. Broadcom and Costco are available for market closings.

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