Here are the most important news, trends and analyses that investors need to start a trading day:
1. Stock futures rebound after the worst session in the Dow weeks
New York Stock Exchange Floor Trader, March 21, 2022.
Source: NYSE
US stock futures rose Thursday as NATO leaders were looking for ways to put more pressure on Russia for its invasion of Ukraine. The Dow Jones Industrial Average fell by nearly 450 points (1.3%) on Wednesday, the worst day since March 7. One week from November 2020. US oil prices rose about 5%, and the Treasury yield for 10 years reached a nearly three-year high for stocks under pressure of nearly 2.42% on Wednesday. Yields for 10 years on Thursday were around 2.4%, but US crude oil was stable.
2. Data on unemployed complaints and durable consumer goods orders
Prior to Thursday’s opening, the government released two major US economic reports: unemployed claims and durable consumer goods. Applications for the first unemployment allowance for the week ending March 19 fell from 28,000 to 187,000, lower than expected, the lowest level since early September 1969. Orders for durable consumer goods fell 2.2% in February, more than double the estimated decline.
The generally strong job market and rising inflation are being carefully watched by the Federal Reserve, which raised interest rates for the first time in more than three years at last week’s meeting. Fed Chair Jerome Powell on Monday kept the door open for more aggressive rate hikes as the year went on.
3. Biden, world leaders hold a trio of summit talks on Russia’s invasion of Ukraine
On Thursday, President Joe Biden of Brussels and world leaders held three emergency meetings to deal with Russia’s Ukraine war: the NATO Summit, the G7 Summit and the European Union Summit. Biden attends all three.
- A senior Biden administration official said the United States plans to sanction more than 300 Russian elites and block money from Russia’s central bank.
- Britain’s Prime Minister Boris Johnson said Thursday that Russia’s President Vladimir Putin had crossed the red line and fell into barbarism shortly after Britain announced further sanctions.
- In a video speech, Ukrainian President Volodymyr Zelensky called on Western nations to take “serious steps” to help them fight Russia. Zelenskyy also stated that Russia used a phosphorus bomb in the attack without evidence.
4. The next destination for Biden’s trip is Poland to deal with the refugee crisis in Ukraine.
Poland and other eastern NATO countries seek clarification on how the United States and other European countries can help address growing concerns about Russia’s aggression and the swirling Ukrainian refugee crisis. .. Biden will visit Poland on Friday.
- Just before he returned to Washington on Saturday, according to the White House, the president “spoken about the united efforts of the free world to support the Ukrainian people, hold Russia responsible for its brutal war, and protect the future. It is expected to be rooted in the principles of democracy. “
5. BlackRock CEO states that the Russian war has ended decades of globalization
BlackRock CEO Larry Fink said Thursday that the conflict between Russia and Ukraine could accelerate digital currencies as a tool for resolving international transactions. In a letter to shareholders of the world’s largest asset management company, Fink said the war has put an end to the globalization forces that have worked in the last three decades. “Energy security has joined the energy shift as a top priority in the world,” he said. Oil prices soared as sanctions on Moscow urged businesses and countries to reassess their supply chains and reduce their reliance on Russian commodities.
— CNBC reporters Salamine, Christina Wilkey, Yundi, Reuters, and The Associated Press contributed to this report.
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