What’s in Today’s Report:
- What the Russian Attack on Ukraine Means for Markets
- What’s Next in This Situation
- What We Are Doing Today
Futures are down close to 3% as Russia launched an attack on Ukraine beyond the Donbas region.
Early Thursday morning Russia launched missiles at numerous targets in Ukraine and landed troops throughout the country, dramatically escalating the conflict.
Commodity prices shot higher, including oil, which is up more than 7%
Today focus will obviously be on the Russian attack and how far it goes, along with the severity of the international sanctions against Russia. Anything that implies a further escalation will weigh further on markets and send commodity prices even higher.
Outside of Russia/Ukraine, there are numerous economic reports and Fed speakers: Revised Q4 GDP (E: 7.0%), Jobless Claims (E: 230K). Fed Speak: Barkin (9:00 a.m., 12:00 p.m. ET), Bostic (11:10 a.m. ET), Mester (12:00 p.m. ET), Waller (8:00 p.m. ET).