Stock futures were up in overnight trade Sunday, ahead of an extremely important week. This is because the Russia-Ukraine War continues to escalate. And the Federal Reserve could raise rates for only the second time since 2018.

The Dow Jones Industrial Average futures gained 100 points. S&P 500 futures climbed 0.3% and Nasdaq 100 futures traded 0.4% higher.

While fighting has increased in Kyiv’s capital city, Ukraine, Russian forces bombard citiesPeople are being killed across the country by these sanctions. The financial fallout of stiff Russian sanctions will come into sharper focus in the coming days ahead of a scheduled sovereign bond payment.

The Fed will continue to monitor developments. raise its target fed funds rate by a quarter percentage point from zero at the end of its two-day meeting Wednesday. An uncertainty caused by the current geopolitical tensions means that investors are looking for new economic forecasts from the central bank.

According to Lindsey Bell (chief markets and money strategist, Ally), “The Fed should be prudent when it comes to interest rates policy in 2022” because of the conflict in Ukraine. The Fed’s difficult task is made more complicated by the conflict. As it decides rates throughout the year, the central bank is likely to remain dependent on data.

The Dow fell 2% last week, suffering its fifth negative week in a row. The S&P 500 and the Nasdaq Composite dropped 2.9% and 3.5% last week, respectively, both posting their biggest weekly loss since Jan. 21.

As inflation worries and geopolitical risk have sent asset prices plummeting, major averages all fell into correction territory. The blue-chip Dow is down nearly 11% from its record high, while the S&P 500 has fallen almost 13% from its all-time high. Nasdaq, a tech-rich stock exchange, has suffered the most from the fall-off. It fell more than 20% since November’s record high.

“The near-term risk/reward is positive if for no other reason than the tape just had about every bit of negative news thrown at it and still couldn’t sustain a material break below the 4200 level,” said Adam Crisafulli, founder of Vital Knowledge.