U.S. stock futures rose as the Wall Street index put it on track to recover some of Wednesday’s losses, while oil prices were near their final high.
The S&P 500 futures rose 0.4% on Thursday. Technology-based Nasdaq-100 contracts rose 0.5% and Dow Jones Industrial Average futures rose 0.3%. US stocks fell and oil prices rose on Wednesday.
In pre-market trading, Nikola’s shares rose 18% after the company confirmed that it had begun production on its electric commercial truck, the Tre.
Investors have looked at how Russia’s war with Ukraine will put additional pressure on supply chains disrupted by Covid-19. Oil prices, which remain above $ 100 a barrel, have increased consumer energy prices and added concern for products such as plastic wrap or herbal fertilizers. Federal Reserve officials have made some additional interest rate hikes this year to curb inflation.
The future of Brent crude, an international benchmark, was $ 117.89 a barrel.
“Until mid-February, it was all about raising rates, and then it was about the war, and now it’s worrying that they’ve been combined,” said Daniel Morris, chief market strategist at BNP Paribas Asset Management. “The challenge in this environment is what you buy. You can’t sit in cash. “It’s the kind of market that has the least chance.”
The Russian stock market has jumped in its first limited trading session since the West introduced punitive sanctions almost a month ago. The benchmark MOEX index increased by about 4%.
The rise is unlikely to be interpreted as a sign that everything is going well with the Russian economy. Of the 50 shares in the index, only 33 were licensed for trading. To avoid a big sale, the Russian central bank banned short sales and blocked the sale of shares to foreigners who make up a large part of the market.
This move will help prevent the ruble from weakening, as foreign investors are likely to sell shares denominated in rubles and then withdraw from the ruble for dollars or euros. The Russian currency has reduced its losses against the dollar in recent sessions to 98 rubles on Thursday.
In bond markets, the benchmark 10-year Treasury bill yield rose to 2.383% from Wednesday’s 2.320%. Yields and prices are reversed.
Abroad, the Stoxx Europe 600 pan-continental was flat. Major Asian indices closed with mixed performance. China’s Shanghai Composite fell 0.6% and Hong Kong’s Hang Seng fell 0.9%. The Japanese Nikkei 225 added almost 0.3%.
New demand for durable goods (products designed to last at least three years) fell by 2.2% in February compared to the previous month, after supply chain disruptions and Boeing Co resumed self-production..
he had a relatively weak month for aircraft orders.
The number of Americans applying for unemployment benefits for the first time fell to 187,000 in the week ended March 19, down from 215,000 the previous week.
Write to Caitlin Ostroff at firstname.lastname@example.org
Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
The futures of the shares rise after the sale
Source link The futures of the shares rise after the sale