{"id":60109,"date":"2022-02-28T08:59:40","date_gmt":"2022-02-28T13:59:40","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=60109"},"modified":"2022-02-28T08:59:40","modified_gmt":"2022-02-28T13:59:40","slug":"coffee-with-greta-traders-russia-slammed-by-sanctions","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/02\/28\/coffee-with-greta-traders-russia-slammed-by-sanctions\/","title":{"rendered":"Coffee With Greta: Russia Slammed by Sanctions"},"content":{"rendered":"

Editor's Note:<\/strong> Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here<\/span><\/a><\/strong>.<\/p>\n

********<\/p>\n

DJIA Futures: <\/b>-463 (-1.4%)<\/span><\/p>\n

SPX Futures: <\/b>-67 (-1.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-194 (-1.4%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are sharply lower as the market assesses the impact of the latest sanctions against Russia.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Russian Ruble Plunges<\/strong><\/h2>\n

The Russian ruble plummeted 29% against the U.S. dollar today after new financial sanctions were imposed against Moscow over the weekend.<\/span><\/p>\n

The ruble hit an all-time low of 119 per dollar but has since pared some of those losses and is now trading at 96 ruble per dollar.<\/span><\/p>\n

Russia\u2019s central bank hiked interest rates from 9.5% to 20% in response and shut down the Moscow Stock Exchange for the day.<\/span><\/p>\n

The U.S. Treasury Department banned transactions with the Russian Central Bank this morning, effectively cutting off the bank from the U.S. dollar.<\/span><\/p>\n

This comes after the U.S., Europe, and Canada imposed limits on the Russian Central Bank\u2019s use of international reserves over the weekend.\u00a0<\/span><\/p>\n

Officials also removed key Russian banks from the SWIFT interbank messaging system.\u00a0<\/span><\/p>\n

Russian, Ukrainian Officials Meet<\/strong><\/h2>\n

Russian and Ukrainian officials are meeting at the Ukraine-Belarus border today.<\/span><\/p>\n

Ukrainian President Volodymyr Zelenskyy has said he does not believe there will be a breakthrough from that meeting.\u00a0<\/span><\/p>\n

Russia continued its attacks on Ukraine over the weekend, with a focus on the capital city of Kyiv.\u00a0<\/span><\/p>\n

But Ukrainian forces have so far maintained control of the country.<\/span><\/p>\n

Ukraine\u2019s interior ministry says dozens of civilians have been killed and hundreds have been wounded in the city of Kharkiv.<\/span><\/p>\n

Russian President Vladimir Putin dramatically escalated tensions with the West Sunday, by putting his country\u2019s nuclear deterrence forces on high alert.<\/span><\/p>\n

Putin cited \u201caggressive statements\u201d by NATO for that decision.<\/span><\/p>\n

Oil Prices Surge<\/strong><\/h2>\n

Oil prices are rallying again amid renewed uncertainty about how the Russia-Ukraine conflict will impact global supply.\u00a0<\/span><\/p>\n

West Texas Intermediate crude prices are up 4.6% at $95.74 per barrel.\u00a0<\/span><\/p>\n

Brent crude prices are up 3.1% at $101 per barrel.<\/span><\/p>\n

Goldman Sachs analysts hiked their forecast for Brent crude prices today to $115 per barrel.<\/span><\/p>\n

U.S. gas prices are expected to hit a new record high amid the surge in oil prices.<\/span><\/p>\n

BP to Sell Stake in Russian Oil Producer<\/strong><\/h2>\n

BP <\/b>(BP) shares are down 8.2% ahead of the open after announcing its plan to sell its stake in Russia\u2019s state-owned oil company.\u00a0<\/span><\/p>\n

BP has held a 19.75% stake in Rosneft since 2013.<\/span><\/p>\n

BP\u2019s CEO is also resigning from the Rosneft board effective immediately.\u2019<\/span><\/p>\n

Crypto Slips<\/strong><\/h2>\n

Cryptocurrency prices slid over the weekend amid uncertainty surrounding the financial sanctions against Russia.<\/span><\/p>\n

The global crypto market cap is down 4.4% in the past 24 hours, to $1.8 trillion.\u00a0<\/span><\/p>\n

Bitcoin is down 3.8% at $38,200 with Ethereum falling 6.6% to $2,600.<\/span><\/p>\n

Trade Deficit Surges to New Record<\/strong><\/h2>\n

The U.S. trade deficit surged 7.1% in January to a new record $107.6 billion.\u00a0<\/span><\/p>\n

That\u2019s according to new data from the Commerce Department and is up from $100.5 billion in December.\u00a0<\/span><\/p>\n

Goods imports jumped 1.8% at the start of the year to a record high $262 billion.\u00a0<\/span><\/p>\n

Goods exports dropped 1.8% to $154.8 billion.<\/span><\/p>\n

The trade deficit has soared as the U.S. economy opens faster than our global trading partners.\u00a0<\/span><\/p>\n

The Russia-Ukraine war is expected to make the supply chain issue worse.<\/span><\/p>\n

In Case You Missed It<\/strong><\/h2>\n
    \n
  • The CDC relaxed its indoor masking recommendations for most Americans on Friday. The agency now recommends wearing a mask only in areas where risk is \u201chigh\u201d. The CDC released a new color-coded map for Americans to determine the risk level of their community. About 63% of all U.S. counties are considered low or medium risk. The CDC is now putting heavier weight on hospitalizations and hospital capacity in determining community risk, rather than just case rate.<\/span><\/li>\n<\/ul>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Editor’s Note: Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here. ******** DJIA Futures: -463 (-1.4%) SPX Futures: -67 (-1.5%) NASDAQ Futures: -194 (-1.4%) Good morning friends! Futures are sharply lower as the market assesses the impact of the latest sanctions against Russia. Let\u2019s get right to it! Russian Ruble Plunges The Russian ruble plummeted 29% against the U.S. dollar today after new financial sanctions were imposed against Moscow over the weekend. The ruble hit an all-time low of 119 per dollar but has since pared some of those losses and is now trading at 96 ruble per dollar. Russia\u2019s central bank hiked interest rates from 9.5% to 20% in response and shut down the Moscow Stock Exchange for the day. The U.S. Treasury Department banned transactions with the Russian Central Bank this morning, effectively cutting off the bank from the U.S. dollar. This comes after the U.S., Europe, and Canada imposed limits on the Russian Central Bank\u2019s use of international reserves over the weekend.\u00a0 Officials also removed key Russian banks from the SWIFT interbank messaging system.\u00a0 Russian, Ukrainian Officials Meet Russian and Ukrainian officials are meeting at the Ukraine-Belarus border today. Ukrainian President Volodymyr Zelenskyy has said he does not believe there will be a breakthrough from that meeting.\u00a0 Russia continued its attacks on Ukraine over the weekend, with a focus on the capital city of Kyiv.\u00a0 But Ukrainian forces have so far maintained control of the country. Ukraine\u2019s interior ministry says dozens of civilians have been killed and hundreds have been wounded in the city of Kharkiv. Russian President Vladimir Putin dramatically escalated tensions with the West Sunday, by putting his country\u2019s nuclear deterrence forces on high alert. Putin cited \u201caggressive statements\u201d by NATO for that decision. Oil Prices Surge Oil prices are rallying again amid renewed uncertainty about how the Russia-Ukraine conflict will impact global supply.\u00a0 West Texas Intermediate crude prices are up 4.6% at $95.74 per barrel.\u00a0 Brent crude prices are up 3.1% at $101 per barrel. Goldman Sachs analysts hiked their forecast for Brent crude prices today to $115 per barrel. U.S. gas prices are expected to hit a new record high amid the surge in oil prices. BP to Sell Stake in Russian Oil Producer BP (BP) shares are down 8.2% ahead of the open after announcing its plan to sell its stake in Russia\u2019s state-owned oil company.\u00a0 BP has held a 19.75% stake in Rosneft since 2013. BP\u2019s CEO is also resigning from the Rosneft board effective immediately.\u2019 Crypto Slips Cryptocurrency prices slid over the weekend amid uncertainty surrounding the financial sanctions against Russia. The global crypto market cap is down 4.4% in the past 24 hours, to $1.8 trillion.\u00a0 Bitcoin is down 3.8% at $38,200 with Ethereum falling 6.6% to $2,600. Trade Deficit Surges to New Record The U.S. trade deficit surged 7.1% in January to a new record $107.6 billion.\u00a0 That\u2019s according to new data from the Commerce Department and is up from $100.5 billion in December.\u00a0 Goods imports jumped 1.8% at the start of the year to a record high $262 billion.\u00a0 Goods exports dropped 1.8% to $154.8 billion. The trade deficit has soared as the U.S. economy opens faster than our global trading partners.\u00a0 The Russia-Ukraine war is expected to make the supply chain issue worse. In Case You Missed It The CDC relaxed its indoor masking recommendations for most Americans on Friday. The agency now recommends wearing a mask only in areas where risk is \u201chigh\u201d. The CDC released a new color-coded map for Americans to determine the risk level of their community. About 63% of all U.S. counties are considered low or medium risk. The CDC is now putting heavier weight on hospitalizations and hospital capacity in determining community risk, rather than just case rate.  <\/p>\n","protected":false},"author":41,"featured_media":60111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-60109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=60109"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60109\/revisions"}],"predecessor-version":[{"id":60112,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60109\/revisions\/60112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/60111"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=60109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=60109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=60109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}