Stock futures are little changed as Wall Street weighs Russia-Ukraine tensions, potential rate hikes
Traders are also weighing the potential impact of surging inflation on the U.S. economy, as well as the potential measures the Federal Reserve could take to quell the jump in prices.
The Labor Department reported last week that inflation in January surged 7.5%, its biggest gain since 1982. Rate-sensitive tech stocks were hit hard by the report, which briefly sent the 10-year Treasury yield above 2% — the first time since 2019 that the 10-year traded above that level. After the report's release, St. Louis Fed President James Bullard said that he was open to a 50-basis point rate hike next month, adding that he wanted to see a full percentage point of hikes by July. To be sure, San Francisco Fed President Mary Daly said"This past week, the primary story was all about inflation," Cantwell said.
Earnings are expected to ramp up again this week, with Nvidia, Walmart, Shopify, AMC and more scheduled to report.
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