U.S. Stock Futures Are Higher With Lower Energy Prices Helping Equity Futures

U.S. stock futures are higher.    Lower energy prices are helping equity futures.  President Biden is considering releasing strategic crude oil reserves to counteract decreases in Russian oil supplies from the global markets.  This is expected to essentially mitigate rising inflation due to higher energy prices.  According to the WSJ, the President is preparing to release up to 1 million barrels a day from the strategic reserves with an announcement due today.  As a result of this media report, global crude oil prices are down this morning.  Additionally, OPEC+ agreed to a modest uptick to oil output from 400,000 to 432,000 barrels per day starting on May 1^st.  Going into the last day of trading for the quarter, the S&P is down 3.4%.  Treasury yields are slightly lower due to potential relief from higher energy prices and ultimately lessening inflationary pressures.  The personal consumption expenditures price index rose 5.4% annually, the largest increase since April 1983.  Jobless claims were 202k from last week versus 196k estimate.  International markets are lower.