By Oliver Gray
Investing.com - U.S. stock futures traded lower in early APAC deals on Wednesday, extending declines during regular trade as market participants retreated amid spiking commodity prices due to the ongoing Russian invasion of Ukraine.
During Tuesday’s trade, the Dow Jones Industrial Average declined 184.74 points or 0.56% to 32632.65, the S&P 500 slid 30.47 points or 0.73% to 4170.62 and the NASDAQ Composite lost 35.41 points or 0.28% to 12795.55.
Dow Jones Futures ticked 0.02% higher, S&P 500 Futures fell 0.1% and Nasdaq 100 Futures were down 0.41%.
Among stocks, Energy related companies outperformed as Crude Oil prices continued to climb, touching fresh 13-year highs as President Joe Biden announced a ban on Russian fossil imports, including oil, in response to the country’s invasion of Ukraine.
Chevron Corp (NYSE:CVX) added 5.24% and Exxon Mobil Corp (NYSE:XOM) gained 0.76% while ConocoPhillips (NYSE:COP) fell 2.44% and Occidental Petroleum Corporation (NYSE:OXY) retreated 1.41%. Oilfield services companies also lifted as Schlumberger NV (NYSE:SLB) added 7.08%, Halliburton Company (NYSE:HAL) gained 1.43%
Technology companies were mixed as Block Inc (NYSE:SQ) added 3.19%, Meta Platforms Inc (NASDAQ:FB) added 1.5%, Alphabet Inc (NASDAQ:GOOGL) lifted 0.57%, while Microsoft Corporation (NASDAQ:MSFT) fell 1.1%, Apple Inc (NASDAQ:AAPL) lost 1.17% and Amazon.com Inc (NASDAQ:AMZN) declined 1.05% to fresh yearly lows.
On the bond markets, benchmark United States 10-Year yields were at 1.84%.
Corporate earnings results will continue Wednesday with names such as Campbell Soup Company (NYSE:CPB) , Crowdstrike Holdings Inc (NASDAQ:CRWD) and Marqeta Inc (NASDAQ:MQ) set to report.
On the economic data front, investors are looking ahead to key employment data as the job openings and labor turnover survey, or JOLTS, is slated to be released later in the session.