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Much of the optimism seen earlier this week around the peace
talks faded as Ukrainian forces prepared for fresh Russian
attacks in the southeast region. The countries will resume peace
talks online on April 1.
Oil majors Exxon Mobil and Chevron both fell nearly 2% in
premarket trading, tracking a 5% tumble in crude prices after
news that the United States was considering a record release of
reserves. [O/R]
Still, the S&P 500 energy index is the top sectoral performer
this quarter, headed for its best quarterly show ever as oil
prices have rallied due to supply tightness from the war and
Western sanctions on Russia, the second-largest crude exporter.
The war-induced surge in commodity prices has amplified concerns
about inflation, currently at a 40-year high in the United
States, and a more hawkish Federal Reserve, setting the three
main U.S. indexes on course for their worst quarter since March
2020.
However, the benchmark S&P 500 index has rebounded more than 5%
this month, powered by upbeat economic data and recovery in
megacap stocks.
Tesla Inc, Apple, Meta Platforms Inc, Amazon.com Inc, Alphabet
Inc and Microsoft Corp edged higher.
At 07:11 a.m. ET, Dow e-minis were down 22 points, or 0.06%, S&P
500 e-minis were up 0.75 points, or 0.02%, and Nasdaq 100
e-minis were up 37.25 points, or 0.25%.
U.S.-listed shares of Baidu slipped 2.2% after the Chinese
search engine giant said it was exploring options after it was
added to a U.S. securities regulator's list of companies facing
the risk of being delisted. Its streaming affiliate iQIYI
dropped 5.2%.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by
Sriraj Kalluvila)
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