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April 5, 2022

Stock futures dip following tech rally

U.S. equity futures stumbled in pre-market trading Tuesday after a rally in tech led stocks higher to start the week. Investors are monitoring the war in Ukraine and bracing for the possibility of new sanctions against Russia.

Contracts on the S&P 500, Dow Jones Industrial and Nasdaq Composite were each down roughly 0.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} ahead of the open after all three benchmarks closed in the green Monday. The Nasdaq — which gained 1.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in the main session — was buoyed by a 27{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} surge in Twitter (TWTR) that came after Tesla (TSLA) CEO Elon Musk revealed he purchased a 9.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} stake in the social media company.

Musk is “speaking with his money by saying that Twitter is an undervalued platform,” MKM Partners’ Rohit Kulkarni told Yahoo Finance Live. “He sees there are things they can do to improve the service, and he’s definitely hinting at a more active role.”

Wedbush Securities analyst and Tesla bull Dan Ives also told Yahoo Finance he predicts Musk will have an active stake in the social media platform over the coming weeks or months, and that his recent snap up of shares was “just the appetizer.”

Separately, Musk’s own company, electric-vehicle giant Tesla, contributed to the gains that propelled a take-off for tech during Monday’s trading session. Shares of the EV carmaker jumped nearly 6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} after it reported vehicle delivery figures this weekend that came in higher than the same period last year.

Recession jitters were at bay on Monday after a closely-monitored portion of the Treasury yield curve inverted last week and spooked investors over the possibility of an imminent economic contraction. The phenomenon has a history of predicting a recession, with each of the last eight slowdowns dating back to 1969 preceded by a yield curve inversion. As of Monday morning, the yield on the benchmark 10-year note remained below that on the shorter-term 2-year note.

Still, worries about an economic downturn were not completely off the table for strategists.

Nomura Chief U.S. economist Robert Dent told Yahoo Finance Live he sees the potential for a “mild recession”

“We think that the cumulative risk of a recession between now and the end of 2024 stands at about 35{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a},” he said. “A lot of that is just coming from what we think is going to be this very aggressive response from the Fed to actually get inflation under control and make sure the labor market actually cools down.”

Uncertainty around the crisis in Eastern Europe also continues to be a headwind for investors. JPMorgan CEO Jamie Dimon in his widely-read shareholder letter warned that the war in Ukraine is likely to meaningfully slow the U.S. and global economy. In the U.S. specifically, the bank estimates the U.S. economy will grow roughly 2.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, a downgrade from the institution’s initial GDP forecast of 3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, with larger cuts to forecasts on Russia and Europe’s economic outlooks.

“We do not know what its outcome ultimately will be, but the hostilities in Ukraine and the sanctions on Russia are already having a substantial economic impact,” said Dimon, adding that “many more” sanctions could be imposed on Russia and spur further unpredictability.

The European Union addressed apparent war crimes in Ukraine on Monday, indicating in a statement that officials would, “work on further sanctions against Russia” over the country’s targeted attacks on civilians. Some major European officials including Germany’s defense minister said they would support banning Russian natural gas — a move previously excluded from sanctions as Russia supplies about 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Europe’s gas energy.

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7:50 a.m. ET: US stops Russian bond payments in move aimed to ramp up pressure on Moscow

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks in a bid to place pressure on Moscow.

Foreign currency reserves held by the Russian central bank at U.S. financial institutions were frozen on Feb. 24 as part of sanctions placed on Moscow for over its invasion of Ukraine.

The U.S. Treasury Department, however, had been permitting the Russian government to use funds to make coupon payments on dollar-denominated sovereign debt on a case-by-case basis.

On Monday, the U.S. government moved to cut off Moscow’s access to the frozen funds as a $552.4 million principal payment on a maturing bond came due.

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7:10 a.m. ET: Stock futures slip, oil rises following Monday’s tech rally

Here were the main moves in futures trading ahead of Tuesday’s open:

S&P 500 futures (ES=F): -10.50 points (-0.23{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,567.25
Dow futures (YM=F): -83.00 points (-0.24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,746.00
Nasdaq futures (NQ=F): -37.75 points (-0.25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,126.50
Crude (CL=F): +$1.28 (+1.24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $104.56 a barrel
Gold (GC=F): -$1.70 (-0.09{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,932.30 per ounce
10-year Treasury (^TNX): 0.00 bps to yield 2.4120{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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6:12 p.m. ET Monday: Futures open little changed after stocks close higher

Here’s where markets were trading ahead of the overnight session on Monday:

S&P 500 futures (ES=F): -2.25 points (-0.05{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,575.75
Dow futures (YM=F): -14.00 points (-0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,815.00
Nasdaq futures (NQ=F): -9.25 points (-0.06{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,155.00
Crude (CL=F): +$0.43 (+0.42{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $103.71 a barrel
Gold (GC=F): +$3.30 (+0.01{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,937.30 per ounce
10-year Treasury (^TNX): +3.5 bps to yield 2.4120{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

Screens display the trading information for Twitter on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 4, 2022. REUTERS/Brendan McDermid

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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Read the latest financial and business news from Yahoo Finance

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March 30, 2022

Stock futures dip after S&P 500 closes at highest level since Jan.

U.S. stock futures drifted slightly lower after rallying on Tuesday, as investors cheered upbeat developments on discussions between Russia and Ukraine.

Contracts on the S&P 500 declined. The blue-chip index had risen for a fourth consecutive day and closed at its highest level since January earlier Tuesday, unwinding some losses for the year-to-date. Technology stocks led the way higher and helped pull the Nasdaq Composite up by nearly 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. As of Wednesday morning, the CBOE Volatility Index, or VIX, held below 20, or near its lowest level in more than two months.

U.S. crude oil prices rose for the first time in three sessions Wednesday after dipping earlier this week amid signs of progress in Russia-Ukraine talks. Russia said it was easing military action in Ukraine’s capital Kyiv and northern city Chernihiv and was prepared to set a meeting between Russian President Vladimir Putin and Ukraine’s President Volodymyr Zelenskyy following a draft peace agreement.

Meanwhile, investors nervously eyed a flattening U.S. Treasury yield curve, with longer-duration bond yields falling much more sharply than those on the short end as traders bet on higher rates from the Federal Reserve in the near-term and mulled a murky macroeconomic outlook over the longer-term. The benchmark 10-year yield edged higher Wednesday morning and topped 2.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

The spread, or difference, between the 2-year and 10-year Treasury note yields — a closely watched part of the yield curve which has typically inverted ahead of recessions — narrowed to its lowest level since 2019 earlier this week. (It inverted for a few seconds on Tuesday.)

“It is still a pretty accurate indicator [of a recession] if we go back and look at history, but I have to give you a few caveats,” Kristina Hooper, Invesco chief global market strategist, told Yahoo Finance Live on Tuesday. “First of all, it needs to invert for some time, typically three months, to be a very accurate indicator. Second, it’s a longer-term indicator. So usually after the yield curve inverts, it takes about 18 months on average for a recession to occur. And it is a terrible, terrible sell signal, because typically stocks have room to run and do run significantly higher after a yield curve inverts.”

The latest batch of U.S. economic data offered a mixed picture on the state of the economy amid still-elevated inflation, ongoing geopolitical uncertainty and tightening monetary policy out of the Federal Reserve. Job openings held little changed at about 11.3 million in March, far outpacing new hires at 6.7 million to reflect persistently rampant labor supply shortages. And while the Conference Board’s latest monthly index showed a slight uptick in consumer confidence in March, the index remained below last year’s average. Plus, consumers’ one-year inflation expectations soared to an all-time high of 7.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

“We expect a clear downshift in inflation expectations in the second half of the year, but they could easily rise further in the near-term,” Ian Shepherdson, chief U.S. economist for Pantheon Macroeconomics, wrote in a note Tuesday.

“The survey sends mixed signals on the state of the economy but, always, remember that sentiment is not the same as spending, which is what matters,” he added.

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7:30 a.m. ET: Stock futures decline after S&P 500 posts four straight days of gains

Here’s where markets were trading Wednesday morning:

S&P 500 futures (ES=F): -10.5 points (-0.23{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,615.00
Dow futures (YM=F): -77 points (-0.22{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,113.00
Nasdaq futures (NQ=F): -50.25 points (-0.33{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,187.50
Crude (CL=F): +$2.79 (+2.68{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $107.03 a barrel
Gold (GC=F): +$10.60 (+0.55{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,928.60 per ounce
10-year Treasury (^TNX): +1.3 bps to yield 2.413{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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7:20 a.m. ET: Mortgage applications fall for third straight week as mortgage rates rise by most in 11 years

U.S. mortgage applications fell for a third consecutive week last week, with refinances especially coming under pressures as mortgage rates jumped by the most in over a decade.

The Mortgage Bankers Association’s (MBA) weekly index showed a 6.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} decrease in application volume for the week ended March 25. This followed a drop of 8.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for the prior period, and coincided with a rise in the 30-year fixed-rate mortgage to 4.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from 4.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} previously. That marked the biggest weekly increase since 2011 to bring rates to their highest level since the end of 2018.

Refinances fell by 15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} compared to the prior week and slumped 60{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} over the same period last year. On an unadjusted basis, purchases were still higher by 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} week-on-week, but down by 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} compared to the same week last year.

“Mortgage rates jumped to their highest level in more than three years last week, as investors continue to price in the impact of a more restrictive monetary policy from the Federal Reserve. Not surprisingly, refinance application volume declined further, as fewer borrowers have an incentive to apply at rates that are significantly higher than a year ago,” Mike Fratantoni, MBA senior vice president and chief economist, said in a press statement.

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6:12 p.m. ET Tuesday: Stock futures open slightly lower

Here’s where the major stock index futures opened Tuesday evening:

S&P 500 futures (ES=F): -4.75 points (-0.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,620.75
Dow futures (YM=F): -24 points (-0.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,166.00
Nasdaq futures (NQ=F): -15.5 points (-0.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,222.25

NEW YORK, NEW YORK - MARCH 28: Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2022 in New York City. Following a positive week for stocks, the Dow Industrial Average was down over 100 points in morning trading. (Photo by Spencer Platt/Getty Images) — NEW YORK, NEW YORK – MARCH 28: Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2022 in New York City. Following a positive week for stocks, the Dow Industrial Average was down over 100 points in morning trading. (Photo by Spencer Platt/Getty Images)

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Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter.

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March 29, 2022

Stock futures point to higher open after all three benchmarks close at 6-week highs

Futures on Wall Street’s main benchmarks pushed higher in pre-market trading Tuesday following a choppy previous session that saw stocks climb in the final hour to cap the day at six-week highs.

Contracts on the S&P 500 were up 0.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, and the Dow Jones Industrial Average jumped 150 points. Futures tied to the Nasdaq Composite were up 0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} after the index was buoyed by a comeback in technology stocks during the previous session. Big names in the sector — Tesla, Amazon, and Apple — each rallied during intraday trading Monday following a rough start to the year stoked by a risk-off sentiment amid a liftoff in interest rates by the Federal Reserve.

“Corporate America is in excellent shape — earnings estimates are higher in 2022 now than they were at the start of the year, which is no small feat,” LPL Financial equity strategist Jeff Buchbinder said in a note, adding, however, that the positive outlook was not without risks, particularly around the Fed’s inflation fight. Buchbinder pointed out the S&P 500 registered a 19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} correction when the Federal Reserve last bumped rates up three years ago.

“We saw in 2018 what can happen when the market thinks the central bank is getting too aggressive,” he said. “And certainly we would not dismiss the potential for an escalation of the war in Europe and a broader conflict.”

Also weighing on corporate earnings is a slowdown in economic expansion and a challenging margin environment set forth by wage pressures, supply chain woes, materials and labor shortages, and rising commodity price, LPL Financial noted. These factors could make big earnings upside for companies to achieve and leave valuations to do the heavy lifting — but those valuations may not offer enough support to prop the S&P 500 up to 5,000 at year-end.

F.L. Putnam chief market strategist Ellen Hazen echoed a similar view on Yahoo Finance Live Monday.

“As we see inflation across the board for companies, we expect margins to continue to be under pressure,” Hazen said.

Inflation worries are also mounting for everyday Americans. The Conference Board’s Consumer Confidence Index due for release on Tuesday will show a timely snapshot of their thinking following the latest spike in prices. Economists surveyed by Bloomberg are looking for the index to fall to 107.0 for March following a read of 110.5 last month.

There will also be a new read on labor demand with the Job Openings and Labor Turnover Survey (JOLTS) for February scheduled for release Tuesday morning. Analysts are expecting 11 million vacancies, little changed from January’s 11.26 million openings. The results will jump start a week of fresh jobs data for March, which includes ADP’s private payrolls (out on Wednesday) and the crucial jobs report (Friday).

Investors got some relief on Monday as the CBOE Volatility Index (^VIX), which measures volatility and serves as a gauge of market sentiment, dipped. Wall Street’s “fear index,” better known as the VIX, settled below 20 for the first time since January after hovering at elevated levels in recent weeks.

Meanwhile, oil prices tanked on Monday after Shanghai implemented a lockdown to curb a surge in COVID-19 infections, renewing fears of a slowdown in demand. WTI Crude Oil futures (CL=F) plunged 9.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to settle at around $103 per barrel, recording their biggest drop in two weeks.

The war in Ukraine remains on the radar for investors. The Kremlin said Monday that peace talks between Russia and Ukraine may continue this week when officials from both countries meet in Turkey on Tuesday.

“While we cannot and will not speak about progress at the talks, the fact that they continue to take place in person is important, of course,” Kremlin spokesperson Dmitry Peskov told reporters on a conference call.

Peskov added that no major progress had been made in the talks themselves or the possibility of a face-to-face meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.

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7:10 a.m. ET: Stock futures rise ahead of consumer confidence, jobs data

Here were the main moves in markets ahead of Tuesday’s open:

S&P 500 futures (ES=F): +16.00 points (+0.35{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,584.00
Dow futures (YM=F): +132.00 points (+0.38{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,985.00
Nasdaq futures (NQ=F): +40.75 points (+0.27{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,026.00
Crude (CL=F): +$0.88 (+0.83{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $106.84 a barrel
Gold (GC=F): -$28.50 (-1.47{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,911.30 per ounce
10-year Treasury (^TNX): -0.00 bps to yield 2.477{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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6:16 p.m. ET Monday: Futures open flat after stocks close at 6-week highs

Here’s where the major stock index futures opened Monday evening:

S&P 500 futures (ES=F): +0.25 points (+0.01{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,568.25
Dow futures (YM=F): -14.00 points (-0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 34,839.00
Nasdaq futures (NQ=F): -10.75 points (-0.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,974.50
Crude (CL=F): -$2.43 (-2.29{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $103.53 a barrel
Gold (GC=F): -$17.60 (-0.91{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,922.20 per ounce
10-year Treasury (^TNX): -1.5 bps to yield 2.477{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

March 4, 2022

Stock futures fall amid Russia-Ukraine conflict, investors await jobs data

Stock futures headed for a lower open Friday morning as investors awaited a key update on the labor market’s recovery and continued to monitor for global economic fallout from Russia’s war in Ukraine.

Contracts on the S&P 500 fell to extend declines from Thursday. Treasury yields pulled back further as traders piled into safe havens including bonds and gold, and the benchmark 10-year yield dropped to below 1.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The risk-off tone Friday morning came amid news that Russia had seized Europe’s largest nuclear power plant in Ukraine, after Russian shelling set fire to the facility earlier.

A fresh set of economic data due for release Friday morning is expected to reaffirm to investors that the U.S. economy has recovered sufficiently to allow monetary policymakers to ease their crisis-era supports. The Labor Department’s February jobs report is expected to show a fourteenth consecutive month of payroll gains, with jobs rising by more than 400,000 and the unemployment rate edging lower to 3.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} — or the lowest since February 2020 before the pandemic. Such a result would mirror the much better-than-expected private payrolls data out from ADP earlier this week.

And already, Fed officials have declared victory on fulfilling their employment mandate for the economy. In congressional testimony this week, Fed Chair Jerome Powell said that most Federal Open Market Committee (FOMC) members would agree that the labor market in the U.S. is now at a level consistent with maximum employment.

And even ahead of the February jobs report, Powell said he would back a 25 basis point interest rate hike at the Fed’s March meeting, putting to rest speculation that the central bank might press ahead with a more aggressive 50-basis point hike to jump-start its efforts to bring down inflation. But persistent price increases have left open the question of how aggressively the Fed will need to tighten monetary policy over the rest of the year.

Inflationary concerns have only compounded as crude oil prices spiked to hover at multi-year highs, with both West Texas intermediate and Brent crude oil prices rising more than 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for the year-to-date and holding well over $100 per barrel. But for monetary policymakers, these concerns have had to be weighed against the uncertainty now generated by the crisis in Ukraine.

“The recent action over the last week, given the combination of the Russia-Ukraine situation but also the continued prints from inflation, have moved expectations down within the market to closer to five hikes, maybe even lower,” Matt Kishlansky, GenTrust Wealth Management Principal, told Yahoo Finance Live. “So I think the Fed needs to signal to that effect that they think that that’s really where they’re going to be.”

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7:22 a.m. ET: Stocks head for lower open

Here’s where stocks were trading Friday morning:

S&P 500 (^GSPC): -42.5 (-0.96{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,317.50
Dow (^DJI): -322 (-0.95{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 33,416.00
Nasdaq (^IXIC): -126.25 (-0.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 13,904.25
Crude (CL=F): +$2.43 (+2.26{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $110.10 a barrel
Gold (GC=F): +$15.20 (+0.79{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,951.10 per ounce
10-year Treasury (^TNX): -6.5 bps to yield 1.779{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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6:13 p.m. ET Thursday: Stock futures rise

Here were the main moves in markets Thursday evening:

S&P 500 futures (ES=F): +6.5 points (+0.15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,365.75
Dow futures (YM=F): +54 points (+0.16{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 33,792.00
Nasdaq futures (NQ=F): +31.25 points (+0.22{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,061.75

A trader works at the New York Stock Exchange in New York, the United States, Feb. 28, 2022. U.S. stocks closed mixed on Monday as investor eyed updates regarding the Russia-Ukraine conflict.The Dow Jones Industrial Average fell 166.15 points, or 0.49 percent, to 33,892.60. The S&P 500 decreased 10.71 points, or 0.24 percent, to 4,373.94. The Nasdaq Composite Index rose 56.78 points, or 0.41 percent, to 13,751.40. (Allie Joseph/NYSE/Handout via Xinhua)

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March 2, 2022

Stock futures rise as investors eye Russia’s war in Ukraine, await Powell

Stock futures opened increased Tuesday night soon after sliding for a next straight session during the common investing day, with jitters over Russia’s war in Ukraine and its implications for the worldwide overall economy weighing on possibility property.

Contracts on the S&P 500 recovered some before losses. Before, the blue-chip index slid 1.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, extending Monday’s losses to kick off March trading on shaky footing. The Dow and Nasdaq each also fell sharply earlier, with threat property reeling as buyers contemplated the potential for far more prevalent supply chain and economic market place disruptions as Russia deepened its assaults in Ukraine, and Western sanctions progressed.

Amid the ongoing geopolitical worries, vitality prices rose further more, and West Texas intermediate crude oil price ranges rocketed higher than $100 per barrel. This came even right after the Global Power Company agreed to launch 60 million barrels from global stockpiles to assist ease force in the presently-tight vitality marketplace.

“The difficulty is that that would not be plenty of to offset a prospective source shock coming from Russia, which is genuinely what the market place is grappling with appropriate now,” Ahmed Riesgo, Insigneo main financial investment officer, told Yahoo Finance Dwell.

“The crucial query that all buyers have to ask by themselves right now is, are Russian exports going to quit? And if the answer to that is sure, then we have to have to de-threat further more,” he added about the broader markets. “And if the respond to is no, then this could perhaps be close to a bottom.”

The West’s sweeping sanctions against Russia have so much formally integrated limitations on Russia’s central bank, obtain to the SWIFT world payments process, and freezes on a wide range of key Russian institutions’ and officials’ property, among some other steps.

Several major firms have also added even more tension to Russia, including Apple (AAPL), which claimed Tuesday it would pause all product or service income to the country, and Disney (DIS), which explained it will halt releasing movies in Russia. However, with many S&P 500 parts looking at reasonably little publicity to Russia and Ukraine from a revenue standpoint, lots of strategists prompt the direct fallout to U.S. corporate gains and broader economic system will likely be fairly contained.

“Issues are increasing that the ramped-up sanctions on Russia and its leaders, now which includes limits on the critical SWIFT banking technique, as properly as the Russian central bank and Putin himself, will have repercussions on world wide commerce that are difficult to forecast,” Louis Navellier, chairman and founder of Navellier & Associates, wrote in a notice. “This is on top rated of the disruption of all the goods that Ukraine by itself provides to the world markets. It is frequently believed that the vast majority of the harm will hit Europe, with China by now seen stepping up to supply alternate marketplaces for Russian exports, creating the U.S. even much more of a safe haven than it was presently deemed.”

Still, the uncertainty generated by the war and the prospective for increased world-wide electrical power charges have left investors betting the Federal Reserve will eschew an extremely-hawkish tilt right after its March financial plan assembly. Fed Chair Jerome Powell is set to testify just before Congress on Wednesday as section of his semi-yearly physical appearance before lawmakers, featuring what will probably be the Fed leader’s initial general public remarks on how the geopolitical situation has educated the central bank’s wondering on curiosity charge hikes and monetary plan tightening for the rest of the year.

Powell’s testimony “will be complicated by the war in Ukraine, but it will not have essential a full rewrite,” Ian Shepherdson, main economist for Pantheon Macroeconomics, wrote in a take note Tuesday. “Monetary problems have tightened as a end result of the dip in stock prices and widening credit history spreads, although the pass-by way of from bigger oil selling prices will both crimp consumers’ true incomes and increase production and distribution fees for firms.”

“We consider it likely that the upcoming forecasts, owing 3 months from now, would have shown 5 or even six [interest rate] boosts this 12 months, prior to the invasion of Ukraine,” Shepherdson included. “Now, we might be incredibly surprised to see 6 tightenings, and some of the wilder current market forecasts now search adrift. We never ever expected a 50bp [basis point] shift in March, and it appears even considerably less probably now.”

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6:12 p.m. ET Tuesday: Stock futures rise as traders eye Russia’s war in Ukraine, await Powell

Right here were the key moves in markets Tuesday night:

S&P 500 futures (ES=F): +4.25 points (+.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,308.00
Dow futures (YM=F): +45 details (+.14{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 33,312.00
Nasdaq futures (NQ=F): +10.5 points (+.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 14,016.00

NEW YORK, NEW YORK - FEBRUARY 28: Traders work on the floor of the New York Stock Exchange (NYSE) after New York City Mayor Eric Adams rang the Opening Bell at the New York Stock Exchange (NYSE) on February 28, 2022 in New York, New York. Stocks plunged over 400 points as investors continue to weigh the situation in Ukraine as Russia continues its invasion of the nation. (Photo by Spencer Platt/Getty Images) — NEW YORK, NEW YORK – FEBRUARY 28: Traders operate on the flooring of the New York Inventory Exchange (NYSE) immediately after New York Metropolis Mayor Eric Adams rang the Opening Bell at the New York Stock Exchange (NYSE) on February 28, 2022 in New York, New York. Shares plunged around 400 factors as buyers continue on to weigh the problem in Ukraine as Russia proceeds its invasion of the nation. (Image by Spencer Platt/Getty Images)

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February 23, 2022

Stock futures recover some losses after S&P 500 tumbles into correction

Stock futures opened larger Tuesday evening right after a steep offer-off in the course of the standard investing day, which pushed the S&P 500 and Dow to their cheapest settlements so significantly of 2022.

Contracts on the S&P 500 rose. The blue-chip index experienced shut lower by just above 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} on Tuesday, bringing it a lot more than 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from its record closing high from Jan. 3 — or beneath the threshold to have entered a correction. The Nasdaq and Dow each also finished in sharply in the crimson.

Hopes of a diplomatic resolution for tensions among Russia and Ukraine appeared to deteriorate on Tuesday, as President Joe Biden publicly identified as Russia’s go to deploy troops to separatist regions of Ukraine “the beginning of a Russian invasion” of the area. The U.S. also unleashed a initial tranche of sanctions on Russian financial establishments, sovereign financial debt and quite a few essential men and women in the nation. Late Tuesday, U.S. Secretary of Condition Antony Blinken also claimed he experienced named off a conference with his Russian counterpart, Overseas Minister Sergei Lavrov, that was meant to just take place this week.

Danger belongings slid on Tuesday as investors considered the fiscal marketplace implications of an escalating danger of military assault and larger sanctions on Russia. As European allies also coordinated their response to Russia’s increased armed forces existence in and all around Ukraine, Germany halted acceptance of the Nord Stream 2 natural fuel pipeline that would have deepened western Europe’s energy connection to Russia, the world’s largest normal gas exporter. Crude oil price ranges spiked to a 7-year higher, and Brent crude neared $100 for each barrel as traders contemplated the possible for additional electrical power-connected sanctions on Russia, the 3rd-major oil producer in the earth.

For U.S. buyers, the mounting geopolitical problems also more complicate the future move by the Federal Reserve, which has so considerably signaled it is prioritizing bringing down inflationary pressures. Even though buyers are currently pricing in an at minimum 25 basis stage desire rate hike from the Fed at its mid-March meeting, the tensions in between Russia and Ukraine — and prospective more price tag improves that an escalating conflict could stoke — generate a additional communication and policy complexity for the central bank.

“If the status quo retains, all we are likely to see is a extremely minimal effects on growth and inflation. Need to we see a full-fledged invasion adopted by considerably more durable sanctions, then we’re likely to be in a incredibly various world,” Joe Brusuelas, RSM chief economist, advised Yahoo Finance Live on Tuesday. “Our baseline is now anticipating a 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} maximize in the cost of oil. Now that is from two weeks in the past — we’re about 7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the way there. If that happens, you may see 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} shaved off growth this yr .. and you may see an addition 2.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} or thereabouts maximize in inflation.”

“The Federal Reserve and their worldwide central banking brethren are in a pretty tricky situation now,” he included. “They are likely to have to hike into what could be an power shock and a slowing world financial state. My sense is the Federal Reserve should to hike by 25 foundation factors at the March meeting, but they should to use the opportunity in equally the communique and the Summary of Economic Projections, to note the threats all around the evolving world surroundings.”

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6:13 p.m. ET Tuesday: Inventory futures recuperate some losses

Below ended up the major moves in markets Tuesday evening:

S&P 500 futures (ES=F): +16.75 points (+.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,316.75
Dow futures (YM=F): +99 factors (+.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 33,624.00
Nasdaq futures (NQ=F): +75.5 points (+.54{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 13,938.25

Photo by: NDZ/STAR MAX/IPx 2022 2/17/22 Atmosphere at the NY Stock Exchange in New York City. — Image by: NDZ/STAR MAX/IPx 2022 2/17/22 Atmosphere at the NY Inventory Trade in New York Town.

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Emily McCormick is a reporter for Yahoo Finance. Comply with her on Twitter

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