Will the Russia-Ukraine conflict impact US markets?
Ned Davis Chief US strategist Ed Clissold and Aegon Asset Management chief macro strategist Frank Rybinski discusses the impact of the Russia-Ukraine crisis on the Federal Reserve’s rate hikes decision and U.S. markets.
U.S. equity futures traded cautiously as oil continued to climb higher, the day after the head of the Federal Reserve said he supports a smaller rise in interest rates than some expected.
The major futures indexes suggest a decline of 0.2% when the opening bell rings on Wall Street.
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Oil prices continue to rally as shipping and supply concerns continue due to Russia's invasion of Ukraine.
U.S. crude gained $2.45 to $113.06 per barrel in electronic trading on the New York Mercantile Exchange. Brent, the price basis for international oils, added $2.15 to hit $115.08 per barrel in London.
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OPEC and its allies, including Russia, decided to maintain an increase in output by 400,000 barrels per day in March despite the price surge and ignoring calls from consumers for more crude, according to Reuters.