Before the Bell | Oil Jumps, Stock Futures Rise After Dow Enters Correction

Moomoo Breakfast US wrote a column · Mar 8, 2022 19:05

By Jack

Hey, mooers! Here are things you need to know before the opening bell:

- Stock futures rose slightly Tuesday morning following the S&P 500′s worst day since October, as investors remained on edge about surging oil prices and slowing economic growth amid Russia's invasion of Ukraine.

- The London Metal Exchange said it suspended trading in its nickel market for the remainder of Tuesday, "following further unprecedented overnight increases in the three-month nickel price."

Market Snapshot

Stock futures rose slightly Tuesday morning following the S&P 500′s worst day since October, as investors remained on edge about surging oil prices and slowing economic growth amid Russia’s invasion of Ukraine.

Futures on the $Dow Jones Industrial Average (.DJI.US)$ climbed 106 points, or 0.32%. $S&P 500 Index (.SPX.US)$ futures traded 0.37% higher and $NASDAQ 100 Index (.NDX.US)$ futures were 0.12% above breakeven.

Source: Bloomberg

Top News

Oil Jumps, Stock Futures Rise After Dow Enters Correction

Stock futures edged higher, while bond yields and oil prices rose, a day after fears of a recession pushed the Dow Jones Industrial Average into a correction.

Gasoline Price Hits Record High

The national average price for regular gasoline reached $4.173 a gallon, surpassing the previous record of $4.114 reached in July 2008, AAA said.

The U.S. Shifts Focus to Venezuelan Oil, but Output Is Low

Even if the U.S. lifts sanctions on Venezuela, years of mismanagement and nationalizations have made Venezuelan production just a fraction of what it was in the 1990s.

Nickel Trading Suspended on LME After Sharp Price Spike

The London Metal Exchange said it suspended trading in its nickel market for the remainder of Tuesday, "following further unprecedented overnight increases in the three-month nickel price."

Moderna Signals It May Enforce Covid-19 Vaccine Patents in Wealthy Nations

The drugmaker says it won't stop anyone from making its shots in low- and middle-income nations and would license the technology elsewhere. $Moderna (MRNA.US)$

Uber Raises Quarterly Guidance on Delivery Growth, Ridership Recovery

Chief Executive Dara Khosrowshahi said the company expects the coming travel season to be one of the strongest ever. $Uber Technologies (UBER.US)$

Bed Bath & Beyond Soars After Chewy Co-Founder Takes Stake

Ryan Cohen's 9.8% stake in the housewares retailer is reminiscent of his move to amass a position in $GameStop (GME.US)$ and lay the groundwork to take over the company's board. $Bed Bath & Beyond Inc (BBBY.US)$ $Chewy (CHWY.US)$

William Ackman Acquires Stake in Canadian Pacific

The billionaire investor's hedge fund disclosed a new position in the railroad after waging a proxy war in 2012 to shake up the company's board and install a new CEO. $Canadian Pacific Kansas City Ltd (CP.CA)$

Intel Files to Take Self-Driving Unit Mobileye Public

The chip maker said last year that it was going to list the Israel-based business, which by some accounts could fetch a valuation above $50 billion. $Intel (INTC.US)$

Read More

How does the inflation and oil shock of 2022 compare to the late 1970s?

Intel files to take self-driving unit Mobileye public

Chewy, GameStop, Bed Bath & Beyond: How have Ryan Cohen's e-commerce bets performed?

Uber raises quarterly guidance on delivery growth, ridership recovery

Key Events This Week