Futures Point To Open Positive As Russia Says Talks With Ukraine ‘Constructive’

Russia Ukraine peace talks were over today as there are positive. Vladimir Medinsky, Russia’s Chief Negotiator noted that the first day of the sixth round of discussions was constructive. Reports said Russia scaled down attacks in and around Ukraine, especially at Kyiv.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares were down on the day, while European shares are gaining on Tuesday.

As of 7.55 am ET, the Dow futures were up 289.00 points, the S&P 500 futures were adding 39.50 points and the Nasdaq 100 futures were progressing 169.00 points.

On hopes of progress in the Russia-Ukraine peace talks, the major averages all ended higher on Monday. The Dow lost more than 300 points in the process but ended the session with a gain of 94.65 points or 0.27 percent at 34,955.89. The tech-heavy Nasdaq Composite added 1.3 percent.

On the economic front, the Redbook data for the week, a measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. In the prior week, the Store Sales were up 12.4 percent.

Standard & Poor’s Case-Shiller Home Price Index for January will be published at 9.00 am ET. The consensus is for growth of 1.0 percent, while it was up 1.1 percent in the prior month. In the prior month, the 20-city adjusted index was up 1.5 percent.

The Federal Housing Finance Agency or FHFA House Price Index or HPI for January will be revealed at 9.00 am ET. In December 2021, the index was up 1.2 percent.

The Conference Board’s Consumer Confidence for March will be published at 10.00 am ET. The consensus is for 107.0, while it was up 110.5 in February.

The Labor Department’s Job Openings and Labor Turnover Survey report for February are expected at 10.00 am ET. The consensus is for 11.10 million, while it was up 11.263 million a year ago.

The Seven-year Treasury Note auction will be held at 1.00 pm ET.

The Fed Money Supply for February will be released at 1.00 pm ET. The M2 money supply was $245.2 billion.

New York Federal Reserve Bank President John Williams will make opening and closing remarks at New York Fed Web Series on Culture: Trust in Banks: Where Are We Now? At 9.00 am ET.

Philadelphia Federal Reserve Bank President Patrick Harker to speak on the economic outlook before an event hosted by the Center for Financial Stability at 10.45 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic will speak on Economic Leadership from America’s Founding to the Global Pandemic at the University of Southern California’s George Washington Leadership Lecture Series at 9.30 am ET.

Asian stocks were broadly up at the close on Tuesday. China’s Shanghai Composite index finished 0.33 percent lower at 3,203.94. Hong Kong’s Hang Seng index gained 1.12 percent to settle at 21,927.63.

Japanese shares were up. The Nikkei average climbed 1.10 percent to close at 28,252.42.

Australian markets rose for the sixth straight session on Tuesday. The benchmark S&P/ASX 200 index inched up 0.7 percent to 7,464.30.

European shares are trading positive. CAC 40 of France is gaining 246.13 points or 3.76 percent. DAX of Germany is progressing 434.91 points or 3.02 percent. FTSE 100 of England is adding 99.14 points or 1.33 percent. Swiss Market Index is surging 202.55 points or 1.67 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 3.18 percent.

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