What you need to know before the US open
US stock futures have rallied, following open markets that are responding to the cooling situation between Russia and Ukraine.
The US has said it’ll provide $1bn in loan guarantees to Ukraine, to help restore financial stability. The Treasury will also send “technical advisers” to help the country in its negotiations with the International Monetary Fund.
The support comes with the conditions that free and fair elections are held, steps taken to battle corruption, and the country withstand “politically motivated” trade from Russia.
Russia has agreed to meet NATO representatives tomorrow to discuss the crisis in Ukraine.
European markets have been lifted on the news that Russian troops are returning to their bases in Crimea, as President Putin said there was no current need for military force in Ukraine.
Russia’s Micex has been leading the way as stocks bounce back from yesterday’s declines. The index has gained as much as 5.9 per cent in trading today.
The price of gold has fallen back from a four-month high, too.
Corporate news
Apple has announced that Luca Maestri will replace Peter Oppenheimer as chief financial officer. Maestri is a corporate controller at Apple, with over 25 years experience. Oppenheimer will retire at the end of September.
BP has said it’s going to create a new business to deal with its onshore oil and gas assets in the US, including shale, in a move to be more competitive.
And Anadarko Petroleum has upped its 2014 capital budget by almost eight per cent, saying it’ll spend around 60 per cent of the total on exploration in onshore North America.
Data in focus
- 2.45pm: Feb ISM New York