Bloomberg Markets Reflect On Stocks Pick of The Day

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U.S. equity futures slipped Monday and stocks were steady as crude oil jumped and investors monitored diplomatic efforts to bring an end to Russia’s almost month-old war in Ukraine.

Shares wavered in China and Hong Kong, while South Korea fell on data signaling a rising energy import bill and easing export growth. S&P 500 and Nasdaq 100 contracts retreated. Overall, the moves pointed to a pause in global equities after their best weekly performance since 2020.

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The dollar fluctuated and the yen held near a six-year low. West Texas Intermediate oil rose to about $107 a barrel as investors assessed the war as well as Middle East tension. Australia’s ban on exports of alumina to Russia pushed aluminum higher. 

Russia is pressing on with its invasion of Ukraine, which has stoked inflation by pushing up the price of key commodities such as oil and wheat. Turkey said Moscow and Kyiv are moving closer in talks aiming to achieve a cease-fire

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