Oil
U.S. equities futures were little changed on Wednesday morning after the market staged a big midday reversal on Tuesday, with falling bond yields giving a boost to growth stocks, and ahead of a batch of economic data.
Oil prices reversed losses and edged up on Monday as concerns of tight supply amid lower OPEC output, unrest in Libya and sanctions on Russia outweighed fears of a global recession.
Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether a European Union meeting would reach an agreement on banning Russian oil imports.
OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due to new COVID lockdowns in China.
Stock futures were flat in overnight trading Monday after investors bought the dip in technology shares following recent weakness.
Stock futures were in positive territory on Tuesday morning, ahead of consumer confidence data and a big week for economic data.
Oil prices jumped even higher on Monday after Russia-Ukraine talks appeared to yield no sign of progress, and markets continued to fret over tight supply — sparking a call by the International Energy Agency to reduce oil demand.
Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre of tighter sanctions and a prolonged disruption to oil supply.
Stock futures were little changed in overnight trading Wednesday after the major indexes posted sharp gains as commodity prices cooled.
Stock futures were higher early Wednesday morning as investors continued to assess a surge in commodity prices and high inflation while the war in Ukraine continues.
