America, European and Japanese allies to remove select Russian banks from the SWIFT
U.S. stock futures tumbled on Sunday as investors continue to monitor the developments between Russia and Ukraine and after U.S. and foreign allies agreed to remove select Russian banks from SWIFT, the global financial system, curbing access to banks in over 200 countries.
Dow futures fell over 500 points, down 1.6% in a volatile session, while
the S&P 500 fell by 2.6% and Nasdaq Futures traded lower by over 2.7%, respectively, as of 1:30 a.m. ET.
RUSSIA-UKRAINE: LIVE UPDATES
Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34058.75 +834.92 +2.51%
SP500 S&P 500 4384.65 +95.95 +2.24%
I:COMP NASDAQ COMPOSITE INDEX 13694.624381 +221.04 +1.64%
After sharp losses during the session, U.S. equities staged a monster
rally Friday with the Dow Jones Industrial Average rising over 834 points
or 2.5% putting the benchmark on pace of the best day since late 2020. The S&P 500 rose 2.2% in a broad rally led by materials and financials. While the Nasdaq Composite added 1.6% helped by large-cap tech leaders Apple, Amazon, and Microsoft.
Strategas Chairman Jason DeSena Trennert, told Barron's Roundtable, investors should keep calm.
"You want to go back to first principles and think about the major things that drive stocks over longer periods of time" such as U.S. economic
growth, monetary policy and corporate earnings all of which should not see
a big impact from Russia Ukraine at the present time, excluding energy companies he noted.
BRITISH PETROLEUM DUMPS ROSNEFT
Ticker Security Last Change Change %
BP BP PLC 30.73 +1.56 +5.35%
In stocks to watch, British Petroleum, on Sunday, confirmed it will exit
its stake in Russian energy company Rosneft – the latest private severance of relations with Russia as the global superpower invades neighboring Ukraine. BP, which has held a 19.75% stake in Rosneft since 2013, also
said its chief executive, Bernard Looney, will resign from the Russian firm's board, effective immediately. Bob Dudley, a former BP executive,
will also resign from Rosneft's board.
Ticker Security Last Change Change %
RUSL DIREXION SHARES ETF TRUST DAILY RUSSIA BULL(POST
REV 11.35 +2.65 +30.46%
FLRV n.a. n.a. n.a. n.a.
RSX VANECK VECTORS RUSSIA ETF 15.60 +0.21 +1.36%
ERUS ISHARES INC MSCI RUSSIA CAPPED ETF 25.00 +1.00 +4.17%
Russian exchange-traded funds could also be active following the
additional sanctions being placed on Russia, which states that "selected" Russian banks are removed from the SWIFT financial system.
Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 65.80 -0.54 -0.81%
BNO UNITED STS BRENT OIL FD LP UNIT 26.28 -0.23 -0.87%
Oil prices rebounded Sunday, and at 1:30 a.m. ET, most actively traded futures for Brent crude, the global oil benchmark Brent crude gained $4.31 to $98.33 per barrel, up 5.6% and approaching the $100 per barrel level it breached last week.
Gold also jumped to above the $1,900 level. As of 1:30 a.m. ET, most actively traded gold futures rose 1.29% to almost $1,912 a troy ounce. The Central bank of Russia, in a statement, said it will resume buying gold on the domestic market starting on Monday, Feb 28th. Russia’s international reserves have reached a new all-time high at $643 billion.
Ticker Security Last Change Change %
GLD SPDR GOLD SHARES TRUST - EUR ACC 176.55 -0.59 -0.33%
In cryptocurrencies, Bitcoin, the largest by market value, hovered around the $37,000 level Sunday evening.
https://www.foxbusiness.com/markets/stock-futures-02-27-2022
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