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Stock futures slides amidst Russia-Ukraine tensions
Following the growing Russia-Ukraine tensions, the stock futures slide further in early morning trading Thursday. According to…
Following the growing Russia-Ukraine tensions, the stock futures slide further in early morning trading Thursday. According to CNBC, Futures on the Dow Jones Industrial Average shed 132 points or 0.4%. S&P 500 futures declined 0.5% and Nasdaq 100 futures ticked down 0.7%.
Oil also slipped on the prospect of a nuclear deal between the US and Iran. All four main US benchmark contracts were trading in the red this morning, with futures on the Russell 2000 underperforming, vying currently with contracts on the NASDAQ which have slipped lower.
The small-cap contract reversed its lead from yesterday. The tech sector remains under pressure because it is particularly sensitive to tightening monetary policy, as rising borrowing costs render the usual equity market leaders overpriced.
In early earnings action, Walmart topped expectations and reaffirmed guidance, sending shares up 1.7% in premarket trading and helping to stem losses for futures. Investors also are awaiting quarterly reports from Airbus, Autonation and Nestle.
According to reports, Russian-supported separatists have accused Ukraine of breaking a cease-fire agreement. It is essential to note that both sides regularly make such claims about the other. The Kremlin has periodically denied any intention to invade its neighbour to the west, despite the build-up of troops on the border, and now the US and NATO have accused Russia of lying about withdrawing troops yesterday.
While Stock futures slide, Tesla CEO Elon Musk has accused the Securities and Exchange Commission(SEC) of harassment in a calculated effort to “chill” his right to free speech in its oversight of his communications with shareholders as part of a 2018 agreement that settled civil securities charges against the billionaire.
Musk and Tesla thought settling the charges would end the agency’s “harassment” of Musk and allow the court, not the agency to monitor his compliance, Musk’s lawyer’s wrote in the filing.
“But the SEC has broken its promises,” they wrote, adding that the agency has been “weaponizing the consent decree by using it to try to muzzle and harass Mr Musk and Tesla.”
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