Stock futures suffered heavy losses on Thursday morning as markets reported Russia invaded Ukraine, according to NBC News, with explosions being detected near the Ukrainian capital. Futures on the Dow Jones Industrial Average (DJI) are eyeing a fall of 851 points, and should these losses stop, it could mark the index's biggest loss since November. Meanwhile, the S&P 500 Index (SPX) and the Nasdaq-100 Index (NDX) are not outperforming, as the former has deepened even further into correction territory, and the latter looks to be down more than 400 points. .
Meanwhile, oil prices are rising, with West Texas Intermediate Futures last seen rising over 8% and close to the $100 mark. Elsewhere, weekly jobless claims came in at 232,000, slightly lower than expected. Fourth quarter GDP data was also released showing a growth of 7%.
Keep reading to learn more about today's market, including:
- Analyst sends warning signal on Quest Diagnostic stock.
- Oil stocks hit 3-year high yesterday.
- Plus, checking income reports from GCI, W, and mRNA.
5 things you need to know today
- The Cboe Options Exchange (CBOE) traded 1.23 million call contracts on Wednesday, and 814,637 put contracts. The single-session equity put/call ratio rose to 0.66, and the 21-day moving average stood at 0.56.
- Shares of Gannett Company Inc. (NYSE:GCI) are down 13.4% in premarket trading after the company reported broad expected losses and revenue misses for its fourth quarter, adding to their 5.3% year-over-year loss. . Equity is looking to open back near its January-end lows.
- Wayfair Inc. (NYSE:W) is also sinking, last seen down 13.4% after a fourth-quarter loss that was wider than analysts' estimates. The furniture retailer also reported an 11.4% decline in revenue on the back of weakness in international sales. The stock is looking to open to a new annual low, and is already suffering a 38% year-over-year loss.
- Moderna Inc. (NASDAQ:MRNA), on the other hand, shared a top and bottom line for its latest quarter, and lifted its full-year vaccine sales forecast. Despite the upbeat results, mRNA is down 5.2% this morning, its lowest open since April.
- It's busy again today, however, as details of fourth-quarter gross domestic earnings, gross domestic product (GDP) revisions, and new home sales for January are out due out.
Fall in foreign markets
The Russian army invading Ukraine sent markets down globally. Hong Kong's Hang Seng led losses in Asia, down 3.2% after shares in Chinese artificial intelligence company Sensetime Group fell after news that its weighting in the Hang Seng Tech Index would be 0.2% instead of 3.9% when The Bank of Korea involved the next month kept interest rates the same and the South Korean Kospi fell 2.6%. Elsewhere, Japan's Nikkei fell 1.8%, while China's Shanghai Composite dropped 1.7%.
European markets are falling in the afternoon, as journalists report explosions across Ukraine. London's FTSE 100 is down 3.2% in retrospect, while the French CAC 40 and German DAX are down 4.9% and 5.2% respectively.