June 27, 2022

Market and Financial News

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Wall Street Poised To Open Lower As Europe Proposes Broader Sanctions On Russia

2 min read

President Biden has called for a war crime trial against Putin as Russia continues with a ruthless onslaught on Ukraine. European Commission has proposed a wider sanction on Russia. European Union has already blocked the import of energy, and coal from Russia.

With five humanitarian corridors, thousands are fleeing from easter Ukraine.
The Fed minutes might get special attention on Wednesday. Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.

As of 7.15 am ET, the Dow futures were down 214.00 points, the S&P 500 futures were declining 38.00 points and the Nasdaq 100 futures were tumbling 204.00 points.

The U.S. stocks ended lower on Tuesday. The major averages all on a decline. The Nasdaq plunged 328.39 points or 2.3 percent to 14,204.17, the S&P 500 tumbled 57.52 points or 1.3 percent to 4,525.12 and the Dow slid 280.70 points or 0.8 percent to 34,641.18.

On the economic front, the Energy Information Administration or EIA’s Petroleum Status Report for the week will be revealed at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 3.4 million barrels, and the Gasoline Inventories were up 0.8 million barrels.

The Federal Open Market Committee or FOMC will be issued minutes of its meeting at 2.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker will speak virtually on the economic outlook before the Delaware State Chamber of Commerce at 9.30 am ET.

Asian stocks tumbled on Wednesday. Chinese markets reopened after two days of public holidays and the shares finished on a flat note.

The benchmark Shanghai Composite index closed marginally higher at 3,283.43.

Hong Kong’s Hang Seng index plunged 1.87 percent to close at 22,080.52.
Japan’s Nikkei index fell 1.58 percent to 27,350.30.

Australian markets ended lower. The benchmark S&P ASX 200 index slipped half a percent to settle at 7,490.10.

European shares are trading lower. CAC 40 of France is losing 91.23 points or 1.38 percent. DAX of Germany is down…

2022-04-06 07:37:18

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