5 things to know before the stock market opens Thursday, March 24

Here are the top news, trends and analysis that investors need to start their trading day:

1. Stock futures rebounded after the Dow’s worst session in weeks

Traders on the floor of the New York Stock Exchange, March 21, 2022.

Source: NYSE

US stock futures It rose on Thursday as NATO leaders were trying to find ways to further pressure Russia to invade Ukraine. The Dow Jones Industrial Average On Wednesday, it fell nearly 450 points, or 1.3%. Worst day since March 7. Dow Standard & Poor’s 500 and the Nasdaq They all fell on Wednesday for the second session in the past three years, after the best weekly gain last week since November 2020. A jump of nearly 5% in US oil prices and the 10-year Treasury yield hit a nearly three-year high of 2.42%. stock Wednesday. The return was over 10 years on Thursday about 2.4%While American crude was steady.

2. Data on unemployment claims, durable goods orders before the bell

The government issued two keys US economic reports Before the opening bell Thursday: unemployment claims and durable goods. Jobless claims fell for the first time for the week ending March 19 by 28,000 to 187,000, which is less than expected and the lowest level since early September 1969. Durable goods orders in February fell 2.2%, more than double the estimated decline.

The generally strong labor market and rising inflation are carefully monitored by Federal ReserveAt last week’s meeting, it raised interest rates for the first time in more than three years. Federal Reserve Chairman Jerome Powell on Monday leave the door open More steep price hikes at the beginning of the year.

3. Biden, world leaders open the three summits on the Russian invasion of Ukraine

President Joe Biden And world leaders in Brussels on Thursday opened three emergency meetings to speak ukraine russia warThe NATO Summit, the G7 Summit, and the European Union Summit. Biden will attend all three.

  • The United States plans to punish more than 300 Russian elite and ban gold on the Russian Central Bank, a A senior official in the Biden administration Thursday said.
  • British Prime Minister Boris Johnson said Thursday that Russian President Vladimir Putin crossed a red line to barbarism, shortly after the UK announced further sanctions.
  • In a video address, Ukrainian President Volodymyr Zelensky Western countries urged to take “serious steps” to help his country fight Russia. Zelensky also said, without evidence, that Russia used phosphorous bombs in an attack.

4. Next stop on Biden’s trip is Poland to tackle the Ukrainian refugee crisis

Poland and other NATO countries in the eastern flank Looking for clarity on how to help the United States and its fellow European countries deal with their growing concerns about Russian aggression as well as the escalating Ukrainian refugee crisis. Biden is scheduled to visit Poland on Friday.

  • Shortly before returning to Washington on Saturday, according to the White House, the president is expected to make statements about “the united efforts of the free world to support the people of Ukraine, to hold Russia accountable for its brutal war, and to defend the future. This is rooted in democratic principles.”

5. BlackRock CEO says the Russian war ended decades of globalization

Black stone Executive Director Larry Fink He said Thursday that the conflict between Russia and Ukraine could end with the acceleration of digital currencies as a tool for settling international transactions. at Message to shareholders Of the world’s largest asset manager, Fink said the war has put an end to the forces of globalization at work over the past 30 years. as he saidEnergy security has joined the energy transition as a top global priority. Oil prices rose after sanctions against Moscow prompted companies and countries to reassess supply chains and try to reduce dependence on Russian commodities.

CNBC correspondents Sarah MinAnd the Christinea wilky And the Yun Lee Reuters and The Associated Press also contributed to this report.

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