Before the Bell | Food prices jump most on record as war sparks supply chaos

Moomoo Breakfast US wrote a column · Apr 8, 2022 18:30

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

- U.S. stock futures rose Friday, as investors continued to appraise the likelihood of tighter monetary policy from the Federal Reserve to combat inflation.

- Global food prices are surging at the fastest pace ever as the war in Ukraine chokes crop supplies, piling more inflationary pain on consumers and worsening a global hunger crisis.

Market Snapshot

U.S. stock futures rose Friday, as investors continued to appraise the likelihood of tighter monetary policy from the Federal Reserve to combat inflation.

Futures on the $Dow Jones Industrial Average (.DJI.US)$ gained 0.43%, while $S&P 500 Index (.SPX.US)$ futures climbed 0.37% and $Nasdaq Composite Index (.IXIC.US)$ futures were up 0.39%, updated at 8:00 AM ET Friday.

Before the Bell | Food prices jump most on record as war sparks supply chaos

Top News

Stock Futures Climb, Bonds Extend Selloff

U.S. stock futures edged up and government bonds extended their selloff as investors assessed the latest signals about Federal Reserve policy and the war in Ukraine.

Food Prices Jump Most on Record as War Sparks Supply Chaos

Global food prices are surging at the fastest pace ever as the war in Ukraine chokes crop supplies, piling more inflationary pain on consumers and worsening a global hunger crisis.

Fed's Bullard Leans Strongly Toward Big Rate Rises, Says Economy Can Take It

Federal Reserve Bank of St. Louis president said the central bank is behind in its mission to get an 'exceptionally high' rate of inflation under control, and will likely have to raise rates fairly aggressively to get price pressures back under control.

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The White House said President Biden supports the legislation and would sign it into law. The moves aim to punish Russia for its invasion of Ukraine.

RBA Tells Banks to Maintain Lending Standard Ahead of Rate Increases

The Reserve Bank of Australia said household and business balance sheets have strengthened, but also warned banks not to relax lending standards given the prospect of higher interest rates in the near future.

Amazon Intends to Appeal Union Victory in New York

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$Rio Tinto (RIO.US)$ said it has taken full control of Queensland Alumina, one of Australia's largest alumina refineries, in which Russia's Rusal has a 20% stake.

Walmart Offers $110,000 Starting Pay to Lure Truck Drivers

To keep its supply chain humming, the retailer is raising starting salaries for truck drivers and expanding a training program that enables its employees to enter the field. $Walmart (WMT.US)$

Discovery Boss to Cut Executive Layers After WarnerMedia Merger

Discovery Chief Executive David Zaslav will have direct oversight of key creative and news operations upon the company's merger with AT&T's WarnerMedia. $WARNER BROS DISCOVERY INC (WBDWV.US)$ $AT&T (T.US)$ $Discovery-A (DISCA.US)$

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A North Carolina bankruptcy judge fined nearly 500 asbestos poisoning victims $100 each for every day they fail to disclose to a Koch Industries affiliate how much they collected from other asbestos manufacturers.

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