U.S. stocks plummeted on Friday with signs that Russia-Ukraine talks have stalled, while oil prices cease to gain momentum.
But the indicators are still on track to deliver their strongest weekly profits from November 2020.
President Biden is scheduled to meet with his Chinese counterpart Xi Jinping to discuss the war as Beijing prepares to support Russia.
U.S. stocks plummeted on Friday but are still ready for their strongest week-long performance since November 2020 following a three-day S&P 500 rally.
The retreat comes amid signs that talks between Russia and Ukraine have stalled as attacks on Ukrainian cities intensify.
Meanwhile, President Biden is expected to address his Chinese counterpart Xi Jinping on Friday to discuss the ongoing conflict, after the US warned that Beijing might be preparing to support Russia.
This is where the US indicators stand as the market opens at 9:30 a.m. Friday:
Digital assets experts have told US lawmakers that Russia is using cryptocurrency to avoid Western economic sanctions. Russia's central bank said on Thursday it had granted a major lender Sberbank a license to export and exchange digital goods.
The Ukrainian government officially authorized the cryptocurrency sector, which emphasizes the country's growing use of digital currency during the war.
At the same time, S&P Global cut Russia's debt rating deep in the "waste" area as the country's risk of automation increased.
Oil turned mixed after more than 1% meeting prematurely. West Texas Intermediate increased 0.2% to $ 103.17 a barrel. Brent crude, an international brand, fell 0.4% to $ 106.21 a barrel.
Gold decreased by 0.6% to $ 1,936.50 per ounce. The 10-year yield dropped by 2.7 points to 2.165%.
Bitcoin an inch lower by 0.9% to $ 40,475.89.
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Courtesy Grizler.com
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