Here are the most important news, trends and analyzes from which investors should start their trading day:
1. Stock futures fall on the concerns of the Ukrainian NPP
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, USA, March 2, 2022. REUTERS / Brendan McDermid
Brendan McDermid Reuters
Dow, S&P and Nasdaq futures fell nearly 1% after Russia attacked, set fire and seized Ukraine’s largest nuclear power plant in Ukraine early Friday. The U.S. government also reported stronger-than-expected job growth in February ahead of the Wall Street bell. The Dow Jones Industrial Average, S&P 500 and Nasdaq were already tracking weekly declines. All three stock benchmarks fell on Thursday, with the Nasdaq down by nearly 1.6 percent. The Nasdaq fell deeper into correction territory, measured by a drop of 10% or more from the last peaks. The Dow and S&P 500 were on the verge of adjustment.
2. February wages rose by a surprisingly strong 678,000
The US economy created 678,000 non-agricultural jobs in February, the Labor Department said Friday morning. This was a much larger increase than economists had predicted. The unemployment rate fell to 3.8%, which is slightly sharper than forecast. As a sign that inflation may be cooling, wages rose by 5.1% on an annual basis last month, well below forecasts.
The publication of jobs is the last monthly report before the Federal Reserve meeting on March 15 and 16. Markets expect interest rates to rise several times this year, starting this month. Fed President Jerome Powell said this in front of a House of Representatives panel on Wednesday when he presented his semi-annual economic assessment of Capitol Hill.
3. Bond yields fall, US oil prices rise due to Russia-Ukraine conflict
Investors sought the perceived security of the bonds on Friday ahead of a job report on fears of escalating fighting in Ukraine. The reference yield on 10-year bonds, which is moving back in price, fell to about 1.78%. The 10-year yield on Wednesday marked its biggest jump in a single session since March 2020.
US oil prices jumped on Friday, but not so high from the nearly 14-year high of the previous day of over $ 116 a barrel. After the jump in the early session on Thursday, crude oil West Texas Intermediate fell and settled in New York, trading down more than 2.6%. However, WTI remained up a staggering 17.5% for the week due to supply concerns over Russian aggression.
4. Russian forces take over Ukraine’s largest nuclear power plant
A video on the screen shows a view of the Zaporizhzhya nuclear power plant during a fire after clashes around the site in Zaporozhye, Ukraine on March 4, 2022.
Anatolian Agency Anatolian Agency Getty Images
Ukrainian firefighters extinguished a fire at the Zaporozhye nuclear power plant on Friday that Russian forces seized overnight. According to the UN and Ukrainian representatives, no radiation was released. In the first days of the invasion, more than a week ago, Russian troops seized the decommissioned Chernobyl plant in Ukraine, the site of the world’s worst nuclear accident in 1986. Russian President Vladimir Putin on Friday called on neighboring countries not to escalate tensions.
5. Difference stocks rise after retailer issues optimistic guidelines for 2022
Gap Store in New York, August 2, 2020
Scott Mill CNBC
Shares of Gap rose 7% on the market on Friday morning after a retailer offered an optimistic outlook for 2022, despite rising inflation and logistical challenges. However, in the near future, Gap sees ongoing struggles in its first quarter, reflecting comments from American Eagle Outfitters, Abercrombie & Fitch, Urban Outfitters and Victoria’s Secret. Gap’s fiscal revenues for the fourth quarter were below pre-Covid pandemic levels but above forecasts. The company behind the eponymous Gap brand, as well as Banana Republic and Old Navy, also made less-than-expected losses during the holiday quarter.
“Reuters and the Associated Press contributed to this report.” Sign up for the CNBC Investing Club now to follow every move in Jim Cramer’s stock. Follow broader marketing activities as a professional at CNBC Pro.