© Reuters. 5 Big Events in Today’s Financial Markets: The Fed’s Preferred Inflation Indicator Hits Geographical Risks
Investing.com – Here are the top 5 things to know in the financial markets for Friday, February 24:
1.The Fed’s Favorite Inflation Gauge Is Coming Soon
The focus is once again on inflation. Later, the United States will announce the Fed’s favorite inflation indicator {ecl-904 in January. inflationMight be stronger than imagined.
On the same day, and and, and other data will be announced.
In addition, several Fed officials will speak, including Governor, Cleveland Fed President, Governor Chris Waller and Boston Fed President Susan Collins.
2.The year-long geopolitical risks in Eastern Europe continue to ferment
The U.S. government reapproved $2 billion in military aid to Ukraine, including drone and counter-drone defense systems, electronic warfare detection equipment, and artillery and rockets.
The U.K. and U.S. also announced increased sanctions against hundreds of other Russian officials and entities, including steps to sharply raise the cost of aluminum smelted in Russia. At the time of writing, it was down 1.0 percent at a seven-week low.
3.U.S. stock futures fall as investors waitPCE Inflation Data
U.S. stock futures fell ahead of the open, with the focus now on the impact of the data on the Federal Reserve’s future policy. Any upside surprise in the data could push up investor expectations for the Fed’s peak interest rate and negatively impact stock valuations.
Investing.com’s U.S. stock market shows that as of 21:12 Hong Kong time (09:12 am Eastern Time), blue-chip stocks fell 217.9 points, or 0.66%, down 28.7 points, or about 0.72%, mainly technology stocks It fell 113.7 points, or 0.93%.
4.Europeeconomical inwarshadowdown earntie
Data today showed that the euro zone shrank by 0.4% in the final quarter of last year, twice as much as initially estimated, undercutting the notion that the euro zone is out of the woods.
The Ukraine crisis has hit Germany’s mainstay industry hard, with Europe’s largest chemicals company BASF (ETR: ) saying it would close an ammonia plant and stop producing some organic chemicals in Germany.
Meanwhile, BASF reported a loss of 4.8 billion euros last year due to a sharp rise in input costs and the write-off of its Russian business.
Still, consumer confidence continues to improve as energy prices fall.
5.Oil prices rise slightly, focus ondrilling,CFTCpositiondata
Crude oil prices rose slightly, paring weekly losses, as a decline in Ross output lessened the negative impact of rising U.S. inventories.
As of 21:12 Hong Kong time (09:12 am Eastern Time), Investing.com Commodity Markets showed: up 0.89% to $76.06/barrel; up 0.83% to $82.89/barrel.
In addition, investors will also need to focus on Baker Hughes’ U.S. oil rig data to assess the outlook for U.S. production. The CFTC will also announce.
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Compiler: Liu Chuan
