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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
US markets were essentially flat in premarket trading while oil prices continued to climb as Russian forces bombarded Ukraine's second-largest city and besieged two ports. The economic fallout from the Russian invasion expanded, with Fitch Ratings and Moody's Ratings cutting Russia's credit rating. They said the invasion and Western sanctions have hurt Moscow's ability to repay debts and raised risks for the economy and stability. On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average wavered between slight gains and losses a couple of hours before the market opens in New York. In early trading, the FTSE 100 in London and Frankfurt's DAX each lost 0.6 per cent while the CAC in Paris slipped 0.2 per cent. The London Stock Exchange said it had suspended trading in shares of 27 companies with links to Russia, including some of the biggest in energy and steel, such as Lukoil, Gazprom, Sberbank, Rosneft and Magnitogorsk Iron & Steel Works. In a notice, the ...