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US investors downshift to wait-and-see mode

US equity benchmarks saw trendless trading on February 28, 2022, although the market pared early losses. Market participants took to the sidelines, given that in two weeks there will be a Federal Reserve meeting, at which monetary reversal will be announced. The tightening of the regulator's policy is a negative factor for growth stocks that are listed on the tech-heavy Nasdaq. In addition, the serious sanctions that have been imposed against Russia will also be harmful to the global economy as a whole.

Closes

NASDAQ Composite: 13,751 (+0.41%)

S&P 500: 4,373 (-0.25%)

Dow Jones: 33,892 (-0.49%)

SPX 500 CFDs are hovering near 4,400 in pre-market trading. The uptrend prevails and is likely to gain traction. Look for a breakout at this resistance level and then a leg up to 4,450 (see below the CFD chart on the SPX 500 from MT4).

Geopolitics

The focus is on the situation in Ukraine and the sanctions imposed by the West against Russia. Uncertainty in global financial markets is on the rise.

Corporate news

First Horizon soared 29% after the regional US bank reached an agreement with Canada's Toronto-Dominion Bank (TDB) under which TDB will buy First Horizon for $13.4 bln.

Real Estate Fund W. P. Carey Inc. surged 3.6% on news of a merger with Corporate Property Associates 18 in a $2.7 bln deal that also includes the company's debt.

Shares of PDC Energy shot up 13% on news that the US oil and gas company has agreed to buy oil basin operator Great Western Petroleum LLC.

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