Futures flat as Dow tops fifth straight weekly decline amid Russia-Ukraine war

Traders on the floor of the NYSE, March 2, 2022.

Source: NYSE

Futures were flat ahead of Friday’s session as the Dow Jones Industrial Average topped a fifth straight weekly loss amid Russia’s invasion of Ukraine.

Dow Jones Industrial Average futures are up 50 points. S&P 500 futures rose 0.2 percent and Nasdaq 100 futures were unchanged.

The Dow Jones Industrial Average fell 112.18 points to 33,174.07 in normal trading on Thursday, after gaining more than 650 points in the previous session, while the S&P 500 fell 0.4 percent. The tech-heavy Nasdaq Composite fell 1% to 13,129.96, led by losses from Apple and Meta Platforms.

The Dow is down 1.31% so far and is on track for its fifth consecutive negative week since May 2019. Meanwhile, the S&P is down 1.60% and the Nasdaq 1.38% this week.

The loss came as negotiations between Russia and Ukraine stalled with no progress on a ceasefire or passports for civilians trying to flee the city of Mariupol. Markets have been volatile in recent weeks as investors weigh in on the consequences of the conflict between Russia and Ukraine.

Meanwhile, oil prices, which have been volatile amid the conflict, fell back on Thursday with West Texas Intermediate crude sliding to around $106 a barrel. Brent crude fell 1% to around $109 a barrel. Commodities including gold and silver rose in price amid the war in Ukraine by 0.61% and 1.70% respectively.

Select stocks and investment trends from CNBC Pro:

“History from an investment standpoint is on our side in the long-term,” Hightower chief investment strategist Stephanie Link told CNBC on “Closing Bells” on Thursday. “The market can recover, and I think we will eventually. We’ll have to see how long this goes on but eventually, the market will recover.”

Thursday’s Inflation Report shows the consumer price index reached 7.9% in February, the highest level in 40 years. This is slightly higher than the 7.8% expected for the year, according to Dow Jones estimates. CPI for the whole month increased by 0.8% month-on-month, higher than the monthly estimate of 0.7%.

Shares of Rivian fell more than 11% in extended trading after missing estimates for Q4 for top and bottom profits, while DocuSign fell 18% after issuing weak direction for the first quarter. first and financial year.

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