Ukraine Crisis Spooks Futures Market

U.S. stock index futures fell on Thursday after Ukraine’s president said Russian forces had been brought into his country, bringing concerns over the volatile region back into focus.

* Worries over tension abroad had largely faded from Wall Street, with major indexes seeing few negative days over the past two weeks and both the Dow and S&P hitting records. However, the market has been looking for direction, with daily moves small and trading volume light.

* Bank stocks may be in focus after the Federal Bureau of Investigation said it was investigating media reports that several U.S. financial firms – including, according to sources, JPMorgan Chase & Co – have been victims of recent cyber attacks.

 
* Ukraine accused Russia of mounting an invasion in the southeast of the country in support of pro-Moscow separatist rebels. The country’s security and defense council said that the border town of Novoazovsk and other parts of Ukraine’s south-east had fallen under the control of Russian forces.

* Ukrainian President Petro Poroshenko said on Thursday Russian forces had been “brought into Ukraine” and called an urgent meeting of the security and defense council to decide the next steps to take in the crisis.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza