Stock futures rise as Western sanctions isolate Russia


March 1, 2022 3:43 a.m. ET

U.S. stock futures edged higher as the Ukraine crisis deepened and far-reaching Western sanctions largely cut off the Russian economy from the rest of the world.

S&P 500 futures rose 0.3% and Dow Jones Industrial Average futures rose 0.3%. Changes in futures contracts do not necessarily predict movements after the opening bell.

In Europe, the Stoxx Europe 600 slipped 0.2% in morning trading. The Materials and Energy sectors led the gains while the Utilities and Real Estate sectors lost ground.

Covestro jumped 4.3% and Antofagasta 2.6%.

Uniper fell 2.1% on a two-game losing streak and Croda International PLC fell 3.3%.

The UK’s FTSE 100 gained 0.3%. Other equity indices in Europe were mixed, with Britain’s FTSE 250 climbing 0.2%, while France’s CAC 40 fell 0.6% and Germany’s DAX 0.8%.

The Swiss franc appreciated 0.1% against the US dollar, with 1 franc buying $1.09 while the euro and the pound sterling were stable against the US dollar.

In commodities, international benchmark Brent rose 2.4% to $100.29 a barrel. Gold also gained 0.7% to $1,913.40 per troy ounce.

The yield on German 10-year bonds fell to 0.109% and UK 10-year government debt known as gilt yields fell to 1.348%. The yield on the 10-year US Treasury fell from 1.836% to 1.843%. Yields move inversely to prices.

In Asia, the indexes mostly rose, with Hong Kong’s Hang Seng Index gaining 0.8%, Japan’s Nikkei 225 Index 1.2% and China’s benchmark Shanghai Composite Index 0.8%.

Traders worked on the floor of the New York Stock Exchange on Monday.


Photo:

Allie Joseph/Nyse/Zuma Press

—An artificial intelligence tool was used to create this article.

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