May 18, 2022

Hardwood Paroxysm

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Pre-market: US futures drop amid Ukraine tensions

Movements in the pre-opening phase

In early trading before entering the market, US stock futures fell due to growing concerns about the situation in Ukraine. The US claims that Russia has concentrated its forces on the Ukrainian border to launch an invasion, Reuters reports; The Dow Jones fell in the previous session by 500 points. Investors are looking forward to earnings results from Treehouse Foods, Inc. (NYSE: THS), Advance Auto Parts, Inc. (NYSE: AAP) H Avis Budget Group, Inc. (NASDAQ: CAR).

Dow futures fell 292 points to 34,335, S&P 500 futures fell 41.75 points to 4,367.75, and Nasdaq 100 futures lost 154.75 points to 14,085.75.

the oil prices They fell, with Brent crude futures down 0.4% to $94.07 a barrel. West Texas Intermediate crude futures fell 0.3 percent to $92.78 a barrel. Baker Hughes Inc. reported. The total number of active oil rigs in the United States increased this week by 19 units to 516 rigs.

To date, the United States has the largest number of coronavirus cases and deaths in the world, with a total of more than 7,932,570 infections and about 943,410 victims; Meanwhile, India records at least 4,2665.530 cases of COVID-19, while Brazil has confirmed more than 2,7483,030 cases.

Read also: Here’s what stock insiders are selling

A look at global markets

European markets today started trading in the red. The STOXX Europe 600 Index is down 2.7%, the Spanish Ibex 35 is down 2.9%, and the London FTSE 100 is down 2.1%. The French CAC 40 Index is down 3.3% and the German DAX Index is down 3.5%.

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Asian markets ended lower: Japan’s Nikkei 225 lost 2.23%, Hong Kong’s Hang Seng lost 1.41%, and China’s Shanghai Composite fell 2.23%. BSE Sensex scored -3%. India’s annual wholesale price inflation fell to 12.96% in January from 13.56% in the previous month, and total passenger car sales in the country increased by 15.9% compared to the previous month.December at 254,287 units.

Analyst Recommendations

Raymond James analysts cut the stock CVS Health Corporation (NYSE: CVS) from Strong Buy to Outperform but raised its target price from $115 to $120.

CVS Health shares lost 1.8% to $102.40 in the after-hours session.

latest news

  • According to Bloomberg, axis bank You will get the retail section of City Group (NYSE:C) in India for $2.5 billion.
  • in the first quarter ALJ Regional Holdings, Inc. (NASDAQ:ALJJ) reported a loss in continuing operations of $0.22 per share, compared to a loss of $0.04 per share in the same period last year.
  • BYD Participate (OTC: BYDDY), an investor-funded veteran automaker Warren Buffettintroduced the Metaverse brand, as reported Monday by cnEVpost.
  • Tesla Corporation (NASDAQ:TSLA) may build a new plant in the northeastern Chinese city of Shenyang, CNEVpost reported Sunday, citing a Chinese government statement.