- Wall Street futures show small losses.
- European equity markets also fell modestly.
- Oil erased gains after hitting new highs in years.
Wall Street futures point to a negative open, after not having traded on Monday, but they are far from the bottom of hours ago. In Europe, stock markets have recovered and several are positive. The S&P falls only 0.09% and the Nasdaq 0.45%. Investors attentive to news about Ukraine.
In Europe, the FTSE 100 is up 0.15% and the CAC 40 is up 0.09%; while the DAX loses 0.10% and the FTSE MIB 0.21%. The Moscow stock index loses 4%, after the 10% crash on Monday. The ruble rises against the dollar, after the USD/RUB will hit 80.97, the highest since March 2020.
The news that continues to impress is the recognition of the independence of two regions of Ukraine by Russia and the entry of Russian “peace” military forces to those places. The United Kingdom announced the start of a series of sanctions and Germany indicated that it will review the certification of the Nord Stream 2 gas pipeline. Announcements from the United States and the European Union are awaited.
The developments generated further increases in the price of oil, which later moderated. WTI barrel futures climbed to $94.75, a new high in years. Gold and avocados initially rose to weekly highs but later erased gains. Bitcoin is recovering after hitting a one-month low hours ago and is trading at $37,500.
wall street Today it returns to normal after Monday’s holiday. Treasury yields are rising, with the 10-year rate at 1.94%. The dollar is mixed results as it rises against the yen, Swiss franc and pound. The latter possibly affected by comments from a Bank of England official, who did not seem as harsh as days ago, regarding the monetary tightening.
Hwill open US data on Tuesday: Preliminary US Markit PMI for February, S&P/Case-Shiller Home Price Index for December, Richmond Fed Manufacturing Index and Conference Board Consumer Confidence Index. Additionally, Atlanta Fed President Raphael Bostic will be part of a conversation about the banking landscape.
The presentation of corporate results includes Tuesday, Home Depots, Macy’s, Virgin Galactic and Toll Brothers.
Technical levels
Source: Fx Street
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