SlateStone Wealth chief strategist Kenny Polcari and Wheelhouse CIO Ann Berry discuss market reaction to the Russian invasion of Ukraine.<\/p>\n
U.S. equity futures traded lower Friday morning, following a day that saw a dramatic recovery toward the end of a wild trading day, as governments slapped sanctions on Russia for its invasion of Ukraine.<\/p>\n
The major futures indexes suggested a decline of 1% when the final trading day of the week gets underway on Wall Street.<\/p>\n
GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n Oil prices rose nearly 2% Friday morning as Russia's invasion of Ukraine raised concerns about global supply.<\/p>\n Markets are bracing for what impact trade sanctions on Russia will have on price.<\/p>\n U.S. West Texas Intermediate (WTI) crude increased $1.36 to $94.13 a barrel.<\/p>\n Global benchmark Brent crude rose $2.07 to $101.15 a barrel.<\/p>\n Traders will have a slew of economic reports to sift through Friday morning: <\/p>\n The Commerce Department posts personal income and spending numbers for January. Economists surveyed by Refinitiv anticipate spending to jump 1.5% month-over-month, reversing a slide of 0.6% in December. Core personal consumption expenditures, which remove volatile food and energy prices, are seen rising 0.5% month-over-month in January. <\/p>\n Personal income, meantime, is expected to edge down 0.3%. The year-over-year change in core PCE, which is the Federal Reserve’s preferred measure of inflation, is expected to shoot up to 5.1%, which would be the highest reading in more than 38 years.<\/p>\n US ECONOMIC GROWTH REVISED UP TO 7% FOR END OF 2021, BEFORE OMICRON IMPACT<\/strong><\/p>\n The Census Bureau is expected to say that new orders for manufactured big-ticket items rose a seasonally adjusted 0.8% month-over-month in January, reversing a larger-than-expected decline of 0.7% the prior month. If you factor out the transportation component, orders are anticipated to rise 0.4% after a 0.6% pop in December.<\/p>\n Also on the agenda is the University of Michigan’s final index of consumer sentiment for February and the National Association of Realtors index of pending home sales for January.<\/p>\n MAJOR MUTUAL FUND COMPANIES DOUBLE DOWN ON EXPLAINING MARKET VOLATILITY DURING UNREST<\/strong><\/p>\n In Europe, London's FTSE added 0.7%, Germany's DAX gained 0.4% and France's CAC rose 0.6%. <\/p>\n In Asia, Japan's benchmark Nikkei 225 surged 1.9%, Hong Kong's Hang Seng edged down 0.5% and China's Shanghai Composite rose 0.6%.<\/p>\n On Wall Street, the S&P 500 rallied 1.5% to 4,288.70 after erasing an early 2.6% loss, while the Nasdaq staged an even bigger comeback, gaining 3.3% to 13,473.59.<\/p>\n The Dow Jones Industrial Average rose a more modest 0.3% to 33,223.83. <\/p>\n\n\n
\n \nTicker<\/th>\n Security<\/th>\n Last<\/th>\n Change<\/th>\n Change %<\/th>\n<\/tr>\n<\/thead>\n \n I:DJI<\/td>\n DOW JONES AVERAGES<\/td>\n 33223.83<\/td>\n +92.07<\/td>\n +0.28%<\/td>\n<\/tr>\n \n SP500<\/td>\n S&P 500<\/td>\n 4288.7<\/td>\n +63.20<\/td>\n +1.50%<\/td>\n<\/tr>\n \n I:COMP<\/td>\n NASDAQ COMPOSITE INDEX<\/td>\n 13473.585028<\/td>\n +436.10<\/td>\n +3.35%<\/td>\n<\/tr>\n \n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n