Stocks set for a muted open
U.S. stock futures were pointing to a choppy start for Wall Street on Tuesday as traders kept an eye on the latest developments from the ongoing war between Russia and Ukraine, including the likelihood of additional sanctions targeting Russian energy sector.
As of 5:40 a.m. ET, futures tied to the blue-chip Dow were indicated 45 points, or 0.13% to 34,784.
S&P 500 futures dropped 6.25 points, or 0.14% to 4,571.5 while the tech-heavy Nasdaq 100 futures gave away 19.5 points, or 0.13% to 15,144.75.
Overnight, the U.S. Treasury stopped the Russian government attempt to pay more than $600 million due on foreign sovereign bonds.
The move is meant to ramp up the economic pressure on Russian President Vladimir Putin, following reports that Russian troops deliberately killed civilians in Ukraine.
Crude jumps as EU leaders debate a ban on Russian coal imports
In energy markets, crude futures crept higher on Tuesday after several media outlets reported that European Union leaders are preparing discuss a ban on imports of Russian coal amid claims that Russian soldiers killed civilians in Bucha, a suburb of Ukrainian capital Kyiv.
However, the leaders are split on the debate amid worries it could make the existing energy crisis even worse.
The leaders are also expected to announce a plan to block most Russian ships and trucks from entering EU nations.
According to a Bloomberg report, the ban would be added to a list of measures aimed at reinforcing existing economic sanctions and removing loopholes. However, the timings and details of the ban are still said to be under discussion.
U.S. West Texas Intermediate (WTI) crude futures were up $1.3, or 1.26% to $104.58 a barrel as of 5:40 a.m. ET. Global Brent crude futures gained $1.3, or 1.21% to $108.83 a barrel.
Elon Musk asks Twitter users if they want an edit button
Tesla (NASDAQ: TSLA) CEO Elon Musk, now the largest Twitter (NYSE: TSLA) shareholder, has posted a poll on the platform asking his 80.3 million followers whether they want an “edit button.”
The tech mogul posed the question in a poll that he posted late on Monday. Musk provided two options, which are a misspelled “yse” and “on.”
Twitter CEO Parag Agrawal retweeted the poll, adding that “the consequences of this poll will be important. Please vote carefully.”
Earlier in the day, a filing with the U.S. Securities and Exchange Commission revealed that Musk had bought a 9.2% stake, worth about $2.89 billion, in Twitter.
As of writing, 2,852,785 votes had been cast on the poll. 73% of those polled voted “yse”, while 27% voted “on.”
Twitter shares rose 1.66% to $50.80 apiece in the premarket trading session. The stock rallied 27.13% to close at $49.97.
