S&P 500 futures close under 4300 as Ukraine/Russia tensions escalate further and amid hawkish Fed speak By Frank_Macro SP500 RussianFederation Fed
ay provinces in Eastern Ukraine, setting the stage for further military escalation in the region. After a long speech where he explained the history of Ukraine and was strongly critical of the country, Russian President Vladimir Putin made the recognition of the breakaway regions official.
An upside surprise, which would come on the heels of upside surprises for both January’s Consumer and Producer Price Inflation readings, could further build the case for a 50bps move, though most analysts see the February CPI data as key. Regardless, hot data likely won’t go down well in the US equity space and, if coupled with further escalation of the Ukraine crisis, would imply a real risk of breaking out to fresh annual lows in the 4200 area.
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