U.S. Stock Futures Are Higher While Oil Prices Continue to Surge

U.S. stock futures are higher:   Futures are in flux this morning between positive and negative territory while oil prices continue to surge.  Chairman Powell’s comments about a potential 25 bps increase mitigated the earlier market predicted 50 bps hike and drove markets up yesterday.  Today the Chairman will be presenting to the Senate.  U.S jobless claims from last week were 215k versus consensus of 225k and the employment data will be released tomorrow. The 10y inched down to 1.85% from its closing yield of 1.87%.  A second round of cease fire discussions between Russia and Ukraine are expected today as the casualties from both side increase and Russian troops are poised outside the capital Kyiv.  European markets are mainly down in trading as global uncertainty is persistent & Asian markets closed mixed.