US futures surge on Biden-Putin summit
- Date: 21-Feb-2022
- Source: The Gulf Time
- Sector:Economy
- Country:Middle East
US futures surge on Biden-Putin summit
Stocks
Bloomberg
US equity futures rise and Asian stocks pared losses on Monday as traders evaluated the possibility of a summit on Ukraine between President Joe Biden and his Russian counterpart Vladimir Putin.
Nasdaq 100, S&P 500 and European contracts erased falls to climb about 1%, while an Asia-Pacific equity index came off its lows but stayed in the red. Markets are being whipsawed by Russia’s troop buildup near Ukraine and efforts at diplomacy to bring both sides back from the brink of war.
France said its proposal for a diplomatic meeting was accepted in principle by Biden and Putin. US officials said a summit would occur only if Russia doesn’t invade Ukraine. There was no immediate confirmation from Moscow, which has repeatedly denied that it plans to invade.
Demand for havens eased, taking gold below $1,900 an ounce. Treasury futures slipped — cash Treasuries won’t trade because of a US holiday. Bond yields in Australia and New Zealand stayed lower in a sign of ongoing investor caution.
The dollar dipped and Russia’s ruble rose more than 1%. Other commodity-linked currencies rallied. Oil fluctuated and nickel jumped as investors weigh risks
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