Stock Market Update

The stock market is on track for a modestly higher opening this morning after a mixed finish yesterday. 

Oil prices, which slid 2.7% yesterday amid optimism around a Russia-Ukraine peace deal, have increased $0.85 (+1.5%) to $59.98 per barrel. The rebound comes as President Trump has ordered a "total and complete" blockade of all sanctioned oil tankers entering and leaving Venezuela, according to CNBC. 

On the policy front, Fed Governor Christopher Waller (voting FOMC member), who is also a Fed Chair candidate, told CNBC that the Fed can lower rates at a moderate pace, noting he believes the Fed is 50-150 points off of the neutral rate.