The risk tones are calmer today, but it’s still a bit early to draw conclusions.
In yesterday’s trading, we saw a midday turnaround in Europe before equities ended the day in a more subdued fashion as Russian-Ukrainian tensions continue to escalate.
US futures are pointing higher on the day with S&P 500 futures up 0.6%, Nasdaq futures up 0.8% and Dow futures up 0. .5%.
That said, watch out for geopolitical headlines later in the session that could affect the risk mood. If anything else, keep an eye on the technical data after yesterday’s decline pushed US stocks closer to their January lows and key support levels:
A breakout of the described technical support levels will create further problems for equities, as we still face a backdrop of strong inflationary pressures and central bank tightening overall.