Risk aversion escalated on Wall Street Friday, with all major indices trading in the red, as investors remain skeptical about the stability of the banking sector in the wake of recent turmoil in the U.S. and Europe.
Cues From Friday's Trading:
Eni announces a new discovery on the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new finding may contain around 200 million barrels of oil (MBoe) in place.
The euphoria over Tuesday’s inflation numbers has apparently given way to skepticism, with index futures retreating sharply early Wednesday. Traders get to digest another set of key economic data points to make their conclusions about Fed’s potential March move.
Cues From Tuesday’s Trading:
Trading in the U.S. index futures suggests stocks could extend their sell-off on Friday, although the jobs report due ahead of the market open could change the entire complexion depending on how the numbers shape up.
Cues From Thursday’s Trading: