(as of 7:10 AM PST)
Geopolitical tensions are high
with Russia gathering troops near the Ukraine border in what looks like a move
to invade Ukraine and possibly reinstall the deposed leader. Markets were down internationally and the
investors’ concerns have shifted to US markets at the opening. The Dow is down triple digits, but losses are
stabilizing in early trading. The
Russian currency is plummeting and the Russian central bank has intervened by
raising interest rates from 5.5% to 7%.
Gold is soaring and most other commodities are rising, including
oil. There is a flight to safety and
therefore the US dollar is strengthening as well as precious metals. Economic reports have been overshadowed by
global news, but there has been some positive data out this morning. US personal spending rose well above
estimates, and inflation has once again proven to be well in check. February was a banner month for investors,
recouping all of January’s hefty losses and this political event could be a
reason for investors to take profits. In
individual company news, Apple has announced a new car technology which has
allowed its stock to escape the early morning downturn. Overall, we could be in for a rocky road this
week.
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