Nasdaq Futures Surged Nearly 1%, S&P 500 Futures Rose 0.8%
Tiger Newspress2022-02-23
Nasdaq futures rose 0.98% to 13,998.50 at press time and S&P 500 futures rose 0.8% 4,334.25. The Dow Jones Industrial Average futures rose 0.66% to 33,745.
“US stocks are well off the morning lows as some traders feel a lot of expected Ukraine-Russia conflict was already reflected in the selling pressure that took place over the past few weeks,” wrote Edward Moya, a senior analyst at OANDA, in an emailed note.
Moya said while consumer confidence is weakening, the growth story for the year remains intact. He pointed to headline confidence reading that fell from a revised 111.1 to 110.5 in his note.
“The headwinds are visible to everyone but the weakness is modest at best,” said the analyst.
“The economy and the consumer are still on solid footing and that should support a strong economic recovery once inflationary pressures that are stemming from geopolitical tensions abroad subside.”
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