Market Multiple Levels: S&P 500
What’s in Today’s Report:
- What Does a Peace Deal Look Like?
- Market Multiple Levels: S&P 500
Markets are trading with a clear risk-on tone today as U.S. stock futures track big gains in European shares, while both the dollar and oil decline on potential progress towards an end to the conflict between Russia and Ukraine.
Earlier today, Kremlin Press Secretary, Peskov, noted that sanctions by the West are making Russia “think carefully” about the situation and that Russia will continue with talks with Ukraine, spurring fresh optimism for a peace deal.
Looking into today’s session, there is one economic report to watch in the morning: JOLTS (E: 10.90M), and then a 10-Yr Treasury Note Auction at 1:00 p.m. ET.
The market’s main focus will remain Russia/Ukraine today as this morning’s risk-on money flows are being driven by perceived progress towards a ceasefire deal ahead of tomorrow’s scheduled talks in Turkey. And if news flow about the conflict is generally positive, oil continues to decline on fading geopolitical concerns, and the S&P 500 can top yesterday’s intraday highs, a relief rally could really gain momentum today.
