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US markets headed for a higher open Friday following solid gains in Europe as uncertainty over the war in Ukraine and persistently high inflation continue to roil markets. Asian markets declined overnight. Investors are fretting over a world economy faced with price pressures and slowing growth. Oil prices advanced on Friday as Russian forces broadened their offensive in Ukraine, attacking two major cities to the west and an industrial center in the east of the country. On Wall Street, futures for the Dow Jones Industrial Average rose 1.1% Friday morning and the same for the S&P 500 were up 1.3%. Germany's DAX rose 3.2% by midday, the CAC 40 in Paris added 2.2% and London's FTSE 100 gained 1.4%. A plan to revoke Russia's most favored nation trade status over its invasion of Ukraine added to unease over the economic repercussions of the deepening conflict after talks between foreign ministers of the two countries failed to show any concrete progress. President Joe Biden plans to
Asian markets surged while Europe opened lower Thursday after oil prices recovered some of a decline the day before that had eased inflation fears. Futures for Wall Street's benchmark S&P 500 index and the Dow Jones Industrial Average were down 0.4per cent as Russian attacks on Ukraine intensified two weeks as fighting entered its third week. Markets rallied Wednesday after oil plunged, but economists warned that was due to changes in futures contracts and other factors, not war developments. On Thursday, prices rebounded by nearly USD6 per barrel in London and nearly USD4 in New York. Forecasters warned markets will stay volatile, as the Russian and Ukrainian foreign ministers were meeting in Turkey for negotiations. Markets seem to have latched onto a couple of slightly less dismal clues as an excuse to rally hard, said ING economists in a report. The basis for that optimism it's actually pretty thin. In early trading, the FTSE 100 in London lost 0.6per cent to 7,146.60 and ..