NewsWare’s Trade Talk: Thursday, March 3

S&P Futures are edging higher this morning while crude oil prices continue to surge as refiners balked at buying Russian oil. Russia’s foreign minister said that talks would resume with Ukraine today even as his country’s forces press ahead with their offensive. This morning on the economic calendar we have Jobless Claims, the Q4 revised non-farm productivity and unit labor costs, and the final services PMI for February. Powell will be speaking in front of the Senate Banking Committee today. Yesterday, Powell said he would propose a quarter-percentage point rate increase at the central bank's meeting in two weeks. Markets remain on edge and is closely monitoring the Russia Ukraine conflict.