Amid Ukraine Tensions Wall Street Set To Open Lower

wallstreet feb22 lt

Accelerating tensions in Ukraine, Russian President Vladimir Putin ordered troops into the eastern region of Ukraine. Russia recognized two breakaway regions in eastern Ukraine. Meanwhile, the U.S. and allies condemned the deployment of troops in Ukraine and Berlin suspended Nord Stream 2 approval from Russia following Putin's actions.

The Russia-Ukraine tensions might have an overwhelming impact on investor sentiments.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares finished mostly lower while European shares are trading broadly lower.
As of 7.10 am ET, the Dow futures were down 71.00 points, the S&P 500 futures were losing 5.00 points and the Nasdaq 100 futures were declining 69.50 points.

The U.S. major averages extended the steep drop seen on Thursday, with the Dow ending Friday's session at its lowest closing level since early December.

The Dow and the S&P 500 briefly peeked above the unchanged in late-day trading but moved lower going into the close. The Dow slid 232.85 points or 0.7 percent to 34,079.18, the Nasdaq tumbled 168.65 points or 1.2 percent to 13,548.07 and the S&P 500 fell 31.39 points or 0.7 percent to 4,348.87.

On the economic front, Case-Shiller Home Price Index for December will be released at 9.00 am ET. The consensus is for an increase of 1.1 percent, while it was up 1.2 percent in the prior month.

The Federal Housing Finance Agency or FHFA's House Price Index or HPI for December will be published at 9.00 am ET. The consensus is for 1.0 percent increase, while it was up 1.1 percent in the prior month.

The flash Composite Purchasing Managers' Index or PMI for February will be revealed at 9.45 am ET. The consensus for Composite Index is 51.9, manufacturing index is 56.0, while Services Index is 52.2.

The Conference Board's Consumer Confidence Index for February will be issued at 10.00 am ET. The consensus is for 110.0 while it was up 113.8 in January.

Federal Reserve Bank of Richmond's Manufacturing Index for February is scheduled at 10.00 am ET. The consensus is for 10, while the index was 8 in the previous month.

A two-year Treasury Note Auction will be held at 1.00 pm ET.

The Fed Money Supply for January will be revealed at 1.00 pm ET. The M2 Money Supply was $201.1 billion.

Atlanta Federal Reserve Bank President Raphael Bostic will speak on the Role of the Federal Reserve in the Community and participate in a moderated conversation before the virtual event with Duke University students at 3.30 pm ET.

Asian stocks retreated on Tuesday in response to soaring tensions in Ukraine. China's Shanghai Composite index fell 0.96 percent to 3,457.15 and Hong Kong's Hang Seng index ended down as much as 2.69 percent at 23,520.

Japanese shares fell for the fourth day. The Nikkei average tumbled 461.26 points, or 1.71 percent, to 26,449.61 while the broader Topix index ended 1.55 percent lower at 1,881.08.

Australian markets fell. The benchmark S&P/ASX 200 index ended down 72.30 points, or 1.0 percent, at 7,161.30, after having hit a two-week low earlier in the day. The broader All Ordinaries index closed 1.13 percent lower at 7,422.20.

European shares are trading mostly lower. CAC 40 of France is losing 1.09 points or 0.02 percent. DAX of Germany is down 35.26 points or 0.27 percent. FTSE 100 of England is adding 17.72 points or 0.24 percent. Swiss Market Index is sliding 11.81 points or 0.10 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.81 percent.

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