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The
European Commission is to propose to EU nations sweeping new
sanctions, including a ban on imports of coal, rubber, chemicals
and other products from Russia worth up to 9 billion euros
($9.86 billion) a year, an EU source told Reuters.
The West prepared new sanctions on Moscow after dead civilians
were found lining the streets of a Ukrainian town seized from
Russian invaders.
Oil majors Exxon Mobil Corp and Chevron Corp rose about 0.3% in
premarket trading after crude prices extended their rally on
fears of tighter global supply. [O/R]
Megacap tech and growth stocks edged lower after helping the
Nasdaq jump 1.9% in the previous session.
Twitter Inc gained 1.4% on Tuesday after a 27% surge in the
previous session when Tesla Inc CEO Elon Musk unveiled a big
stake in the micro-blogging site.
Overall, stocks have rebounded in recent weeks after a rocky
start to the year amid concerns about the ongoing war in Ukraine
and the U.S. Federal Reserve's tightening monetary policy to
fight decades-high inflation.
The benchmark S&P 500 is down 3.9% so far in 2022 after falling
as much as 12.5%.
At 07:00 a.m. ET, Dow e-minis were down 85 points, or 0.24%, S&P
500 e-minis were down 10 points, or 0.22%, and Nasdaq 100
e-minis were down 32 points, or 0.21%.
Meanwhile, data from the Institute for Supply Management at
10:00 a.m. ET is expected to show that the non-manufacturing
activity index rose to 58.4 in March, after a reading of 56.5 in
the previous month.
Carnival Corp rose 3.7% after the cruise operator reported its
highest booking week in its history, boosting peers Norwegian
Cruise Line Holdings Ltd and Royal Caribbean Cruises Ltd 2.4%
and 2.2%, respectively.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by
Shounak Dasgupta)
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