U.S. Stock Futures Are Higher As Global Energy Prices Eased In Morning Trading
U.S. stock futures are higher: Global energy prices have eased in morning trading with OPEC and non-OPEC countries potentially pumping more crude oil to stabilize international supply concerns from the expected decrease of Russian oil due to sanctions. Declines in energy costs are expected to lessen overall inflationary pressures. Additionally, President Biden planned visit to the Middle East at the end of the month may include his first meeting with the Saudi Crown Prince. U.S jobless claims from last week were 200K versus 210K consensus and reflects a gradual decline from the previous week. Treasury yields are inching down post decreasing energy prices and investors are waiting for tomorrow’s employment report for further insight into the overall economic situation. European markets are trading higher and Asian markets closed lower.