Morning Brew March 4 2022
Senior Relationship Manager
Summary: Zaporizhzhia Nuclear Power Plant
Equities are under pressure this morning on a fire at the Zaporizhzhia Nuclear Power Plant, but can recover a little on news that the fire has been extinguished. Yesterday equites closed lower on rising oil, inflationary pressure and overall uncertainty. News reports that shooting at Zaporizhzhia has stopped and no radiation leaked.
The US 500 is trading at 4341, the US Tech 100 at 13953 and the GER40 at 13420. The US Tech 100 found some support at the 200d line.
EURUSD fell to 1.1020 with the volatility back at 10% and GBPUSD 1.3330 USDJPY remains at 115.50 and the USD Index breaks above 98.
Gold and Silver are at 1935 and 25.20.
Oil fell yesterday on news that a deal with Iran may allow more Iranian exports.
BlackRock suspends purchases of Russian securities in active and passive funds, other asset managers as well as Index providers join.
Tesla and Amazon suffered significant losses, after the Biden Administration announced a 4500USD premium for EVs that are US made in a Unionized factory.
Equities rose off the lows and closed in the green with app 1.5% for the US Indexes
The war in Ukraine continues and Russia entered the town Kherson while government sanctions and corporate boycotts are being stepped up against Russia.
Besides Ukraine and Iran Talks, watch for the EU retail sales and the US Labor data at 14:30 today.