What’s in Today’s Report:
- Ukraine Update and Why Futures Are Down
- Switching Focus Back to the Fed
- Weekly Market Preview: Powell Testimony Wed/Thurs
- Weekly Economic Cheat Sheet: Jobs Week
Futures are sharply lower as markets react to additional sanctions against Russia, including removing select Russian banks from the SWIFT system. The additional sanctions and historic isolation of Russia by the global community are increasing economic uncertainty.
Positively, Ukraine and Russia are having peace talks today, and hopefully, that leads to a ceasefire sooner than later.
There were no notable economic reports overnight and no material economic reports today, so Russia/Ukraine headlines will drive trading, and any reports of a cease-fire will be a positive for markets.