US open: Stocks mixed with Ukraine peace talks, Fed in focus
US stocks are heading for a mixed start with the Nasdaq underperforming, as Ukraine peace talks and the Fed rate decision take centre stage.
Share this:
US futures
Dow futures +0.5% at 33100
S&P futures +0.2% at 4212
Nasdaq futures -0.35% at 13255
In Europe
FTSE +0.3% at 7170
Dax +1.4% at 13860
Euro Stoxx +1% at 3726
Learn more about trading indices
Nasdaq underperforms as yields rise
US stocks are set for a mixed start as Russian Ukraine peace talks resume and investors look ahead to the Federal Reserve monetary policy meeting.
More peace talks are taking place today. Hopes are growing that a diplomatic solution can be found. US Deputy Secretary of State Wendy Sherman said that Russia shows signs of wanting to progress negotiations.
The positive comment combined with the most optimistic assessments so far from both Ukraine and Russia over the state of talks is helping boost risk sentiment, lifting stocks cautiously higher after heavy losses last week. Oil prices are also heading lower.
The Nasdaq is underperforming its peers as attention also turns to the Federal Reserve rate decision later in the week. The Fed is expected to hike rates by 0.25% after inflation surged to 7.9% YoY in February.
In addition to Ukraine Russia talks, the US and China are also set to hold their first high-level talks since Russia’s invasion last month and amid reports that Russia asked China for military equipment at the start of its invasion.
Separately, China has seen COVID cases jump to a two-year high. The tech hub Shenzhen has been moved back into lockdown. While the Chinese stock market was hit on the news, in Europe and the US, Ukraine optimism overshadows the rapid spread of Omicron in the world’s second-largest economy.
There is no high-impacting US data due to be released today.
Where next for the Nasdaq?
The Nasdaq is edging lower on the day after failing to find acceptance at 13450. The long wick on the candle, combined with the bearish RSI, suggests that there could be more downside on the cards. Strong support can be seen at 13000 the round number and 2022 low. A break below here would be significant and open the door to 12200 the March 2021 low. Buyers will look for a move over 13850, the confluence of the falling trendline resistance and last week’s high ahead of 14000 round number and 14415, which is a move above here, changing the bias to bullish.
FX markets USD falls, EUR rises
USD is heading lower as risk sentiment returns. That said, any losses in the greenback could be capped by rising treasury yields ahead of Wednesday’s Fed rate decision.
EURUSD is rising, boosted by hopes of a diplomatic end to the Ukraine war, bringing 1.10 psychological level back into focus. Europe stands to gain the most from a quick resolution to the Ukraine crisis.
GBPUSD is falling despite the improved market mood. While it has picked up from the year-to-date low of 1.30, the price remains depressed. The BoE rate decision is due on Thursday, and expectations are for a rate hike back to pre-covid levels. However, growth is also set to slow, which is unnerving investors.
GBP/USD -0.1% at 1.3029
EUR/USD +0.38% at 1.0955
Oil tanks 5%
Oil prices fell 5% across last week and trade 5% lower just today as investors grew hopeful of diplomatic efforts to end the Ukraine crisis and COVID cases surge in China.
Russian and Ukraine negotiators are due to sit down again today for more peace talks after an upbeat assessment of weekend developments, at least round the table; fighting on the ground continues. Meanwhile, Russian exports will be closely monitored for signs of changes.
In addition to Ukraine hopes, a jump in COVID cases in China and strict new lockdown restrictions raise questions over the demand outlook. New daily infections have hit a two-year high in China, the world’s largest oil importer.
WTI crude trades -4.6% at $101.80
Brent trades +4.6% at $105.88
Learn more about trading oil here.
Looking ahead
N/A
How to trade with City Index
Follow these easy steps to start trading with City Index today:
- Open a City Index account, or log-in if you’re already a customer.
- Search for the market you want to trade in our award-winning platform.
- Choose your position and size, and your stop and limit levels
- Place the trade.
US futures
Dow futures +0.5% at 33100
S&P futures +0.2% at 4212
Nasdaq futures -0.35% at 13255
In Europe
FTSE +0.3% at 7170
Dax +1.4% at 13860
Euro Stoxx +1% at 3726
Nasdaq underperforms as yields rise
US stocks are set for a mixed start as Russian Ukraine peace talks resume and investors look ahead to the Federal Reserve monetary policy meeting.
More peace talks are taking place today. Hopes are growing that a diplomatic solution can be found. US Deputy Secretary of State Wendy Sherman said that Russia shows signs of wanting to progress negotiations.
The positive comment combined with the most optimistic assessments so far from both Ukraine and Russia over the state of talks is helping boost risk sentiment, lifting stocks cautiously higher after heavy losses last week. Oil prices are also heading lower.
The Nasdaq is underperforming its peers as attention also turns to the Federal Reserve rate decision later in the week. The Fed is expected to hike rates by 0.25% after inflation surged to 7.9% YoY in February.
In addition to Ukraine Russia talks, the US and China are also set to hold their first high-level talks since Russia’s invasion last month and amid reports that Russia asked China for military equipment at the start of its invasion.
Separately, China has seen COVID cases jump to a two-year high. The tech hub Shenzhen has been moved back into lockdown. While the Chinese stock market was hit on the news, in Europe and the US, Ukraine optimism overshadows the rapid spread of Omicron in the world’s second-largest economy.
There is no high-impacting US data due to be released today.
Where next for the Nasdaq?
The Nasdaq is edging lower on the day after failing to find acceptance at 13450. The long wick on the candle, combined with the bearish RSI, suggests that there could be more downside on the cards. Strong support can be seen at 13000 the round number and 2022 low. A break below here would be significant and open the door to 12200 the March 2021 low. Buyers will look for a move over 13850, the confluence of the falling trendline resistance and last week’s high ahead of 14000 round number and 14415, which is a move above here, changing the bias to bullish.
FX markets USD falls, EUR rises
USD is heading lower as risk sentiment returns. That said, any losses in the greenback could be capped by rising treasury yields ahead of Wednesday’s Fed rate decision.
EURUSD is rising, boosted by hopes of a diplomatic end to the Ukraine war, bringing 1.10 psychological level back into focus. Europe stands to gain the most from a quick resolution to the Ukraine crisis.
GBPUSD is falling despite the improved market mood. While it has picked up from the year-to-date low of 1.30, the price remains depressed. The BoE rate decision is due on Thursday, and expectations are for a rate hike back to pre-covid levels. However, growth is also set to slow, which is unnerving investors.
GBP/USD -0.1% at 1.3029
EUR/USD +0.38% at 1.0955
Oil tanks 5%
Oil prices fell 5% across last week and trade 5% lower just today as investors grew hopeful of diplomatic efforts to end the Ukraine crisis and COVID cases surge in China.
Russian and Ukraine negotiators are due to sit down again today for more peace talks after an upbeat assessment of weekend developments, at least round the table; fighting on the ground continues. Meanwhile, Russian exports will be closely monitored for signs of changes.
In addition to Ukraine hopes, a jump in COVID cases in China and strict new lockdown restrictions raise questions over the demand outlook. New daily infections have hit a two-year high in China, the world’s largest oil importer.
WTI crude trades -4.6% at $101.80
Brent trades +4.6% at $105.88
Looking ahead
N/A
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Gold Q4 2026 outlook: Resilience in the face of rallying dollar and yields
As we headed towards the latter stages of Q3 and into Q4, the Fed had just hiked rates in a hawkish FOMC meeting, while the likes of the ECB and BoJ had also tightened their respective policies. Oil prices remained elevated amid the prolonged US-Iran conflict. Meanwhile, bond yields were breaking out, and the dollar was higher across the board. Yet, remarkably, gold was still holding in the positive territory for the third quarter, even if it had weakened somewhat in September.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
Equity Indices Q4, 2026 Outlook: Cracks Begin to Show
There's still an open door for a melt-up in the S&P 500 and Nasdaq but the Dow and Russell 2000 are looking more vulnerable, and until calm hits the Treasuries market there's a higher probability for volatility. The big question is whether that's a next quarter theme or not.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.