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<ul class="summary-list"><li>Global stocks trod water on Tuesday as investors awaited Big Tech earnings and weighed China economic support. </li><li>Softer guidance from mega-cap tech stocks could send <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> back to square one, an analyst said.</li></ul>Global stocks showed overall stability Tuesday as China pledged to boost monetary support for its COVID-19 stricken economy, although US index futures dipped ahead of the start of this week's Big Tech earnings.Futures on the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a>, <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>, and <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> fell 0.2% each as of 4:20 a.m. ET, suggesting a lower start to US trading later in the day.The <a href="https://markets.businessinsider.com/index/msci-world">MSCI World Index</a>, which tracks markets in several developed and emerging nations, rose modestly by 0.2%.The first-quarter earnings season will kick into high gear this week, with results from tech heavyweights, starting with <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> and <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a> on Tuesday."Both should have had impressive quarters, but the real meat in the sandwich will be their 2022 outlooks going forward," said Jeffrey Halley, a senior market analyst at Oanda. "Softer guidance will have stock markets back to square one once again."Johan Javeus, chief strategist at SEB Research, said the tolerance for tech stock underperformance is minimal.On Monday, the <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-china-lockdown-twitter-musk-dow-nasdaq-2022-4">Nasdaq rallied</a> even before <a href="https://www.businessinsider.com/elon-musk-to-buy-twitter-board-accepts-44-billion-2022-4">Twitter agreed to sell the company to Elon Musk</a> in a deal valued at $44 billion."The point here is the market doesn't quite know if it's arrogance leading the way or genius," Dan Lane, senior analyst at Freetrade, said. "Musk flits between both regularly. Let's see which one this is, and if taking his eye off the Tesla ball for a while is worth it."The key theme in financial markets now appears to be one of risk aversion, with concerns over global growth leading to sell-offs in risk assets as anxiety about China's coronavirus outbreak dragging into a fourth week has sparked growth concerns."Markets reacted to the news of possible new lockdowns on Monday in a classic 'risk off' mode, with investors spooked that weaker demand in Asia's largest economy could hurt global growth," Matthew Ryan, senior market analyst at Ebury, said.But one positive is the Chinese central bank saying it will ease monetary policy and support the economy, sparking some optimism in Asian equities."The PBOC will step up the prudent monetary policy's support to the real economy, especially for industries and small businesses hit hard by the pandemic," the People's Bank of China said on Tuesday.Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> rose 0.2% and Tokyo's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a> rose 0.4%. The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> fell 1.4%.Markets have also been fretting about the pace of aggressive central bank tightening after Federal Reserve Chair Jerome Powell said a 50 basis point rate hike was on the table at the May meeting. This has sparked concern that the US economy, which had just begun to recover from the pandemic, could tip into recession.Other concerns affecting market sentiment are new Russian threats. After Defense Secretary Lloyd Austin said Monday that the US wants to "see Russia weakened," Russian Foreign Minister Sergei Lavrov warned <a href="https://12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fworld-news%2F2022%2F04%2F25%2Freal-danger-third-world-war-mysterious-attacks-russia-says-sergei%2F">there's a "real danger" of a Third World War</a> breaking out.But European equities rallied Tuesday as investors weighed mixed results from European banks, including HSBC and UBS, and China's policy boost.<a href="https://markets.businessinsider.com/index/ftse_100">London's FTSE 100</a> rose 0.7%. The pan-European <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Euro Stoxx 600</a> rose 0.6% and <a href="https://markets.businessinsider.com/index/dax">Frankfurt's DAX</a> added 1%.Oil prices traded in a narrow range from Monday's level as supply worries persist, with more buyers turning away from Russian oil even without a formal European embargo.<a href="https://markets.businessinsider.com/commodities/oil-price?type=brent">Brent crude futures</a> fell 0.6% to $101.41 a barrel and <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> fell 0.9% to $97.66 a barrel.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-10-under-the-radar-picks-set-to-deliver-juicy-returns-2022-4" target="_blank" rel="noopener noreferrer">Under the radar stock picks: An investing expert lays out how to find US equities winners that can outpace the S&amp;P 500 — and reveals 10 'unglamorous' gems poised for stellar returns</a>

Global stocks stabilize ahead of Big Tech earnings and as China pledges to support its COVID-hit economy

<ul class="summary-list"><li>Global stocks tumbled Monday after last week's ugly close on Wall Street, when the Dow lost almost 1,000 points.</li><li>Concerns over strict new COVID-19 measures in Beijing drove Asian equities and oil prices lower.</li></ul>US futures tumbled Monday alongside sharp falls for stocks around the world, as investors fretted about risks to economic growth from more-aggressive central bank policy and China extended lockdowns to Beijing.Futures on the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a> were down almost 1%, or 333 points, as of 5:20 a.m. ET, and <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> futures fell 1%. Meanwhile, <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> futures dropped 0.9%, suggesting a lower start to trading later in the day. The <keyword id="11898248" type="UNKNOWN" weightage="60" keywordseo="sp-500" source="Orion">S&amp;P 500</keyword> is down nearly 6% since the end of March.The indicated declines follows a slide in US equities Friday, when the <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-plunges-1000-points-losing-week-2022-4">Dow notched its worst day since October 2020</a> to drop 981 points.Investors are worried the Federal Reserve's pace of interest-rate rises could tip the economy into a recession, after its Chair Jerome Powell said a 50-basis-point hike is on the table at its May 3-4 meeting."His remarks led <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> to further scale up the likely pace of Fed tightening, leaving futures priced for an almost 100% chance of 50-basis-point rate hikes at the next three meetings in May, June, and July," UBS strategists said in a Monday note.Expectations for the fed fund futures rate have risen from 2.47% to 2.83% in the last week, above the Fed's estimate of neutral.Policymakers at the European Central Bank, the Bank of England and elsewhere have echoed Powell in signaling more tightening may be needed to tackle inflation.After some positive US earnings results last week, investors are nervous about the performance of mega-cap tech giants and the latest inflation reading on Friday. Big Tech names including <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, <a href="https://markets.businessinsider.com/stocks/fb-stock">Meta</a>, <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a>, <a href="https://markets.businessinsider.com/stocks/twtr-stock">Twitter</a>, and <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> are due to report quarterly earnings this week.About 20% of S&amp;P 500 companies have reported so far, with 80% beating forecasts, according to <a href="https://insight.factset.com/sp-500-earnings-season-update-april-22-2022">FactSet data</a>. But <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a> shares lost one-third of their value after its <a href="https://www.businessinsider.com/netflix-loses-subscribers-first-time-decade-earnings-2022-4">high-profile earnings disappointment</a>.Sentiment toward stocks appears gloomy, as <a href="https://www.reuters.com/business/global-markets-flows-graphic-2022-04-22/">$15.21 billion flowed out of global equity funds</a> in the week to April 20, Reuters reported. That's the biggest weekly outflow since December 15.The risk-off sentiment extended to Asia, where equities fell steeply as Chinese authorities signalled Beijing could face stringent mobility restrictions, and as a coronavirus outbreak in Shanghai worsened.While the Chinese capital recorded just 19 new local COVID-19 cases over the weekend, health officials <a href="https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2F3d63ad95-6f6e-48ff-843d-dfb8f0aae207">described the situation as "grave</a>" as <a href="https://edition.cnn.com/2022/04/24/china/beijing-covid-outbreak-lockdown-fears-intl-hnk/index.html">panic buying broke out</a>."As cases erupt in Beijing, there is concern that prolonged lockdowns will hit employment and lead to a sharp slowdown in growth as well as sparking fresh shipping logjams and supply chain issues," Susannah Streeter, senior investment analyst at Hargreaves Lansdown, said.The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> tumbled 5.1%, and Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> fell 3.7%. Tokyo's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a> dropped 1.9%.In Europe, stocks fell as investors braced for a drop in Chinese exports to key consumer markets and tighter monetary policy. <a href="https://www.ft.com/content/0a5a525b-a459-4741-b3d4-ca335cdc2d33">Emmanuel Macron's re-election</a> as French president, seen as a reassuring sign of stability amid growing geopolitical anxiety, capped further losses in the region.Russia's assault on Ukraine shows no signs of subsiding, as its <a href="https://www.reuters.com/world/and-who-will-come-next-warns-zelenskiy-after-russian-general-eyes-southern-2022-04-22/">attack in the east of the country continued over the weekend</a>, with two missiles striking the port city of Odesa.The pan-European <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Euro Stoxx 600</a> fell 2%, and <a href="https://markets.businessinsider.com/index/dax">Frankfurt's DAX</a> lost 1.7%. <a href="https://markets.businessinsider.com/index/ftse_100">London's FTSE 100</a> was down 2.2%. Oil prices slid, dragged down by concerns China's lockdowns would hit demand and by an expected US supply slowdown after inventories fell.<a href="https://markets.businessinsider.com/commodities/oil-price?type=brent">Brent crude futures</a> dropped 4.8% to $101.08 a barrel, and <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> was down 4.8% at $97.15 a barrel.Read more: <a href="https://www.businessinsider.com/crypto-unicorn-dune-analytics-onchain-data-science-wizards-blockchain-vcs-2022-4" target="_blank" rel="noopener noreferrer">Meet the Dune wizards: The college students, VCs and crypto rebels wrangling on-chain data to help people make sense of the Web 3.0 world. Here's how they got started — and what it takes to secure paid contracts</a>

Dow futures fall 330 points, global stocks tumble as central banks' hawkishness and Chinese lockdowns intensify worries about economic growth

<ul class="summary-list"><li>US stocks looked set to open higher Thursday after Tesla crushed Q1 earnings by beating Wall Street estimates.</li><li>The EV maker's record results should reasonably ease tech jitters, an analyst said.</li></ul>US stock futures rose Thursday after <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> brought some optimism back to the market by revealing a record profit, and investors awaited clues on central-bank thinking from Federal Reserve Chair Jerome Powell's speech.Futures on the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a> were up 0.5% as of 5:15 a.m. ET. Futures on the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> rose 0.7%, and <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> futures gained 1.1%, suggesting a higher start to trading later in the day.Tesla rose 7% in premarket trading after the electric-vehicle maker <a href="https://www.businessinsider.com/tesla-earnings-q1-stock-price-elon-musk-2022-4?r=US&amp;IR=T">posted first-quarter earnings</a> for 2022 late Wednesday. It beat analyst expectations by reporting higher margins, and its quarterly revenue rose 80% year-on-year to $18.7 billion. The company "defied skeptics as rising prices offset cost pressure to drive stronger-than-expected earnings," Ben Laidler, global <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> strategist at eToro, said. "This will refocus attention on the accelerating global EV transition, after the recent distractions of founder Elon Musk's bid for Twitter."After <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a> shocked the market by losing a huge 200,000 subscribers, the <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-stocks-netflix-nasdaq-dow-tech-tesla-earnings-2022-4">tech-heavy Nasdaq turned lower </a>Wednesday. But Tesla's results should offset a reasonable chunk of tech jitters, according to Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.More quarterly results are expected as earnings season continues, with Snap, NextEra Energy, Blackstone, and American Airlines due to report later Thursday.The yield on the 10-year Treasury note rose slightly to 2.87%, after Wednesday's decline on speculation that US inflation is close to peaking.As global growth forecasts are being cut at the same time as interest rates are being hiked, investors are anticipating recessions.San Francisco Fed President Mary Daly on Wednesday expressed a desire to get policy rates to neutral, and said a series of rate hikes in the coming months might just <a href="https://www.cnbc.com/2022/04/20/feds-daly-says-the-economy-can-handle-rate-hikes-but-a-mild-recession-is-possible.html">lead to a shallow recession</a>.Investors will be watching for Powell's speech at 11 a.m. ET. He's already said the Fed is ready to <a href="https://www.bloombergquint.com/global-economics/powell-says-fed-ready-to-hike-faster-go-restrictive-if-needed">raise interest rates by 50 basis points</a> at its May 3-4 meeting.Powell is scheduled to speak again at 1 p.m. ET, at an <a href="https://meetings.imf.org/en/2022/spring/schedule/2022/04/21/imf-seminar-debate-on-the-global-economy">event</a> hosted by the International Monetary Fund alongside European Central Bank President Christine Lagarde. Bank of England Governor Andrew Bailey will speak at the Peterson Institute for International Economics.Markets are expected to closely observe the central bank "trinity" for indications of coming monetary policy, given the current elevated macroeconomic and geopolitical risks.Ukraine's crisis and continued uncertainty around the geopolitical backdrop will keep a ceiling on how far Western markets can climb over coming weeks and months, Lund-Yates said.In Europe, <a href="https://markets.businessinsider.com/index/ftse_100">London's FTSE 100</a> was down 0.2%. The pan-continental <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Euro Stoxx 600</a> rose 0.3%, and <a href="https://markets.businessinsider.com/index/dax">Frankfurt's DAX</a> gained 1%.Asian equities traded mixed, with mainland China and Hong Kong stocks lagging on worries about the Chinese economy's battle with coronavirus. Chinese President Xi Jinping's speech failed to boost investor sentiment."President Xi put more emphasis on fighting COVID than stimulating the economy, which showed clear signs of slowing down in March and April," Per Hammarlund, SEB Research's chief EM Strategist, said.The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> fell 2.3%, and Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> closed 1.3% lower. Tokyo's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a> rose 1.2%. Oil prices were fluctuating around $108 a barrel after data showed an unexpected decline of 8 million barrels in <a href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/042122-crude-oil-futures-climb-after-draws-in-us-crude-product-stocks">US crude inventories</a> in the week ending April 15. A tug-of-war between concerns over demand and supply lifted prices Thursday.<a href="https://markets.businessinsider.com/commodities/oil-price?type=brent">Brent crude futures</a> were up 1.2% at $108.05 a barrel, and <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> futures rose 1% to $103.21 a barrel."The market is anything but calm, with supply disruptions from Libya and Russia currently being offset by lower demand in China, where officials are struggling to eradicate a wave of COVID-19 in key cities," Ole Hansen, Saxo Bank's head of commodity strategy, said.Read More: <a href="https://www.businessinsider.com/stocks-to-buy-value-growth-energy-oil-gas-andrew-walker-2022-4">Buy these 4 undervalued stocks that are trading at a steep discount to the S&amp;P 500 as growth investments get punished, says a Sohn Idea Contest-winning portfolio manager</a>

US stock futures rise after Tesla reports blow-out earnings and investors await further clues from Fed Chair Powell

<ul class="summary-list"><li>Global stocks were mostly up Thursday on hopes inflation may be close to peaking.</li><li>The ECB's meeting is in focus, and policymakers are expected to open the door to a summer rate hike.</li></ul>Global stocks inched higher on Thursday, driven by signs inflation may be close to peaking, and much of the central bank tightening appears to be priced into the bond market.Equity <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> have been bearing the brunt of central bank hawkishness, but futures on all three major US indices were in the green. Futures on the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a>, <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>, and <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> rose about 0.2% each as of 4:10 a.m. ET, suggesting a modestly higher open later in the day.The <a href="https://markets.businessinsider.com/index/msci-world">MSCI World Index</a>, which tracks markets in several emerging and developed countries, rose 0.2%."The perpetually bullish FOMO gnomes of the stock market stayed laser-focused on peak-US inflation," said Jeffrey Halley, a senior market analyst at OANDA. "Everyone remains desperate to pick the absolute bottom of the stock market."US consumer prices rose at the fastest pace in over four decades in March, at 8.5% year-on-year. But there are indications that inflation is moderating, with price rises in certain goods declining, and investors appear to be encouraged by that."This should allow central banks to slow the pace of monetary tightening and tone down hawkish rhetoric," Mark Haefele, chief investment officer at UBS Global Wealth Management, said. "That in turn should lower the threat of an economic hard landing."US yields too dropped on the peak inflation theme. The yield on the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year Treasury note</a> was at 2.66%, down from 2.83% before the inflation data.JPMorgan set off the earnings season with a grim start, reporting a <a href="https://markets.businessinsider.com/news/stocks/jpmorgan-q1-earnings-revenue-slows-russia-hit-investment-banking-economy-2022-4">revenue slowdown</a> in its first-quarter Wednesday. But analysts said Wall Street chose to ignore the major US bank's earnings to focus on peaking inflation.Elsewhere, investor focus will be on the <a href="https://www.ecb.europa.eu/home/html/index.en.html">European Central Bank's monetary policy decision on whether to change the pace of tightening</a>, which will be announced at 12:45 p.m. London time.The central bank is expected to stick to the script and not move rates from 0.25%, but analysts say the governing council is likely to adopt a more hawkish tone and set the scene for policy tightening in the summer.It may announce that net purchases will now be wound down to zero much sooner, possibly by June, said Matthew Ryan, senior market analyst at Ebury.Thursday's ECB meet will keep any bullishness in check, according to IG's chief market analyst Chris Beauchamp, as the eurozone faces similar inflationary challenges as the UK and US.<a href="https://markets.businessinsider.com/index/ftse_100">London's FTSE 100</a> fell 0.3%. The pan-European <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Euro Stoxx 600</a> rose 0.1% and <a href="https://markets.businessinsider.com/index/dax">Frankfurt's DAX</a> rose 0.2%.Asian equities tracked Wall Street higher after China announced late Wednesday that authorities would cut the amount of money central banks need to keep as a reserve — a sign of support for the economy hurt by lockdowns.The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> and Tokyo's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a> rose 1.2% each. Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> gained 0.5%.Oil prices eased for the first time in three days, after data showed US crude inventories rose more than expected by 9 million barrels in the week to April 8, which traders see as a sign of weaker demand.The International Energy Agency downwardly revised its forecast for global oil consumption this year, and warned Russian oil output will decrease due to sanctions from April onwards.<a href="https://markets.businessinsider.com/commodities/oil-price?type=brent">Brent crude futures</a> fell 0.8% to $107.85 a barrel and <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> fell 1.06% to $103.14 a barrel.Even so, both benchmarks have risen by about 7% this week, driven by worries about a supply crunch.Major European and US markets, as well as some Asian markets, will close on Friday for the Easter weekend.Read more: <a href="https://www.businessinsider.com/investing-strategy-tech-metaverse-megatrends-gen-z-bank-of-america-2022-4" target="_blank" rel="noopener noreferrer">Bank of America's thematics chief breaks down the 8 investing mega-trends he's backing to accelerate rapidly and transform financial markets over the next decade</a>

Global stocks edge higher on hopes inflation may have peaked, while oil dips after surprise rise in US stockpiles

<ul class="summary-list"><li>US stocks looked set to open higher Wednesday as the March inflation data showed some pressures are easing.</li><li>Oil traded above $100 as Vladimir Putin vowed to continue Russia's war against Ukraine.</li></ul>US futures ticked higher Wednesday as inflation data wasn't as high as <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> feared, with some perceiving the latest print as a sign that some price pressures may have peaked.Futures on the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a> rose 0.4% as of 4:00 a.m. ET. Those on the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> rose 0.5% and the <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> rose 0.6%, suggesting a higher open later in the day.Data on Tuesday showed overall <a href="https://www.businessinsider.com/inflation-cpi-march-bright-spots-signal-cooling-core-price-growth-2022-4?r=US&amp;IR=T">US inflation rose to a 41-year-high of 8.5%</a> in March, a solid jump from the 7.9% seen in the prior month, and just slightly above market forecasts for an 8.4% rise.But a better measure of long-term inflation — the core CPI index — showed the prices of goods and services fell by the most in two years."US inflation might still be running hot, but since [Tuesday's] figure was 'only' 8.5% and not worse than feared, stocks have found room to recover," Chris Beauchamp, chief market analyst at IG, said.That data sent US yields lower, pausing their recent march higher. The yield on the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year Treasury note</a> was at 2.77% on Wednesday, compared to a more than three-year peak of 2.83% before the inflation reading."Markets may see some relief from early signs of easing price pressures as we near peak inflation levels, and with an aggressive 2.5% of Fed interest rate increases already expected this year," Ben Laidler, global markets strategist at investing network eToro, said."This may ease both the already hawkish forecasts of the Fed raising interest rates 2.5% this year, and the dramatic recent spike in US bond yields and the stronger US dollar," he added.Market sentiment was curbed along with higher oil prices after President Vladimir Putin <a href="https://www.bloomberg.com/news/articles/2022-04-12/putin-says-ukraine-peace-talks-at-dead-end-vows-to-pursue-war">vowed to continue Russia's invasion of Ukraine</a>, saying peace talks with Ukraine "are at a dead end."Russia's oil and gas production has fallen to its lowest since July 2020 below 10 million barrels per day as sanctions hold back trade, <a href="https://www.reuters.com/business/energy/russian-oil-output-falls-below-10-mln-bpd-lowest-since-july-2020-sources-2022-04-12/">Reuters reported</a>, citing sources.OPEC has told the European Union that it would be <a href="https://www.businessinsider.com/opec-energy-oil-russia-europe-european-union-sanctions-ukraine-war-2022-4?r=US&amp;IR=T">nearly impossible to replace 7 million barrels of Russian oil per day</a> if supplies are cut off due to boycotts. On Tuesday, the group <a href="https://www.reuters.com/business/energy/opec-cuts-2022-world-oil-demand-forecast-due-ukraine-conflict-2022-04-12/">cut its oil demand growth forecast</a> for 2022, citing the war in Ukraine, rising inflation, and the return of the COVID-19 flare-up in China."OPEC is showing zero signs of moving to fill the gap," said Jeffrey Halley, a senior market analyst at OANDA. "Only a return by Iran and Venezuela could do that."Oil prices traded above $100 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?type=brent">Brent crude futures</a> were last down 0.2% at $104.38 a barrel, and <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> fell 0.4% to $100.16 a barrel.Elsewhere, UK inflation rose more than expected to hit a 30-year-high of 7% in March as rising food and energy prices weighed on consumers. That figure was up from February's 6.2%."The Bank of England will most definitely have been awaiting today's figures with bated breath, and the triple threat of sluggish economic output, listless wage growth and sky-high inflation we have seen this week means its monetary policy report and accompanying interest rate decision will certainly be one to watch come May," Derrick Dunne, CEO of YOU Asset Management, said.<a href="https://markets.businessinsider.com/index/ftse_100">London's FTSE 100</a> and the pan-European <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Euro Stoxx 600</a> each fell 0.1%. <a href="https://markets.businessinsider.com/index/dax">Frankfurt's DAX</a> lost 0.5%.Asian equities traded choppily after data showed China's exports outperformed, but its <a href="https://www.reuters.com/world/china/chinas-export-growth-beats-expectations-imports-slip-2022-04-13/">imports slumped</a> slightly.The <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> fell 0.8% and Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> was about flat. Tokyo's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a> rose 1.9%. Read more: <a href="https://www.businessinsider.com/oil-price-shock-how-to-play-the-market-volatility-goldman-2022-4" target="_blank" rel="noopener noreferrer">Oil shock: A Goldman Sachs analyst lays out how investors can play a multi-year spell of wild crude price volatility with $30 swings — and shares his top trade ideas</a>

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Global stocks stabilize ahead of Big Tech earnings and as China pledges to support its COVID-hit economy

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Dow futures fall 330 points, global stocks tumble as central banks' hawkishness and Chinese lockdowns intensify worries about economic growth

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US stock futures rise after Tesla reports blow-out earnings and investors await further clues from Fed Chair Powell

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Global stocks edge higher on hopes inflation may have peaked, while oil dips after surprise rise in US stockpiles

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US futures edge higher as inflation data isn't as bad as feared, while oil marches above $100

Shalini Nagarajan

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