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Jack Sweeney first attracted public attention after creating a Twitter account dedicated to tracking the private plane of Tesla founder Elon Musk. The teenager now has a new pet project involving another group of billionaires: advertising the movement of private jets owned by Russian oligarchs.

“It would be great to see one of their planes captured,” Sweeney, 19, told CBS MoneyWatch while discussing his Twitter account. @RUOligarchJetsor Russian oligarch planes.

Sweeney, a first-year student at the University of Central Florida, said the account is based on an algorithm he developed that uses publicly available aircraft ownership records and flight data to track about 30 private planes belonging to Russian oligarchs. . The teenager said he was inspired to create the service after Russia’s attack on Ukraine, when people on social media asked him if he could use the algorithm used to track Musk to monitor the private planes of Russian oligarchs.

“People want these people tracked down and their assets tracked down and their yachts and planes taken,” Sweeney said.

Since Sweeney launched the Russian oligarchs’ tracking service, the Twitter account has grown to more than 340,000 followers.

The term “oligarch” – referring to a small group in government that exercises control, usually for corruption – has been used to describe Russia’s extremely wealthy business elite, whose wealth is suspected to have been gained mainly through their political ties to members of the government. , including through the privatization of state assets.

Addressing the state of the union, President Biden said the United States and its allies were waging an economic war against Russian President Vladimir Putin over the country’s invasion of Ukraine, as well as against Russian oligarchs believed to support him. On Wednesday, the Ministry of Justice announced the formation of a new working group that will focus on the oligarchs.

“We are joining our European allies to find and confiscate your yachts, your luxury apartments, your private jets. We are coming for your malicious profits,” Mr Biden said.

Tracking Putin

The latest data from the tracking account of the Russian Oligarch Jets show that a plane owned by Leonard Blavatnik, who has American citizenship but was born in Russia, took off from Newberg, New York, to Liberia on Thursday. Blavatnik earned $ 7 billion by selling a stake in a Russian oil company in 2013. He is now the 34th richest man in the world, with a net worth of nearly $ 38 billion, according to the Bloomberg Billionaires Index.

Sweeney also tracks Putin’s private jet @PutinJetalthough flight data so far are only for travel within Russia.

Leonard Blavatnik’s Jet N600EB took off near Newberg, New York, USA. Departure for Liberia, Guanacaste, Czech Republic (LIR, Daniel Oduber Kiros International Airport) arrival after ~ 4 hours 27 minutes. pic.twitter.com/DDEySPAJtu

– Russian oligarch planes (@RUOligarchJets) March 3, 2022

Other private planes tracked by Sweeney include planes owned by Roman Abramovich, the Russian billionaire who said this week he would sell the Chelsea football club and donate the proceeds to the victims of the Ukrainian invasion, and Leonid Michelson, the CEO of the largest supplier of natural gas in Russia.

“They have huge planes – some of them just keep flying, they don’t stop,” Sweeney said, noting that one of the planes was a commercial Boeing 787.

Owning and operating a Gulfstream GIV for private business use can cost between $ 30 million and $ 50 million a year, depending on the hangar’s services and whether one buys a new or used aircraft, according to Honeywell Aerospace. The Boeing 787 private jet version could cost more than $ 200 million, Business Insider reports.

Sweeney, who studies information technology and aims to find a job in software engineering in the aviation industry, said he did not worry about threats or security because he was in the United States. He said he would track more planes if he found information about them.

As for Musk – who tops Bloomberg’s list of $ 226 billion in wealth – Sweeney said he was still tracking his plane. He also said that Musk offered him $ 5,000 to close the account, but he refused.

“I will not take it down for only $ 5,000,” he said, noting that he had made a counter-offer of $ 50,000 or Tesla. “He said he wasn’t feeling well – then all the news came out and he blocked me.”

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“I’ve made a lot of mistakes since I started Rivian more than 12 years ago, but this one was the most painful. I’m really sorry,” Scaringe wrote. “Trust is hard to build and easy to break. Speaking to many of you over the last two days, I fully realize and acknowledge how upset many of you have felt.”

Rivian announced price increases for its R1T pickup and its R1S SUV on Tuesday. The base price of the four-engine R1T increased from $ 67,500 to $ 79,500, and the base price of the four-engine R1T increased from $ 70,000 to $ 84,500.

Customers can configure and reserve their R1T or R1S with a refundable deposit of $ 1000. In general, new pre-orders are unlikely to receive their vehicles before 2023.

The carmaker cited inflation, supply chain shortages and rising component costs as reasons for rising prices.

“This increase in costs and complexity due to these challenging circumstances necessitates an increase in the prices of the R1T and R1S models we offer today – prices that were originally set in 2018,” Rivian CEO Giten Bell said in a statement announcing the original. price increase at that time.

Many Rivian customers were angry and canceled their pre-orders. Some described the price of their vehicles rising to $ 20,000 due to the change.

Dallas resident Brendan McCauley, who had a pre-order for R1T, said its price had risen from $ 87,700 to $ 100,700.

McCauley described Rivian’s first e-mail about the price hike as a very “corporate conversation” and a “hard pill to swallow.” He said he appreciated Scaringe’s apology and the cancellation of the marches for pre-order holders.

“The email this morning looked more like the company I was a fan of,” McCauley said of receiving Scaringe’s letter. “I thought it was a real move by the class. He took ownership of it.”

Scaringe said in a letter Thursday that the company had not communicated well about price increases. Rivian will respect the initially configured price for anyone who has ordered a vehicle in advance since the announcement of prices on March 1. Customers who have canceled their pre-order after the price increase will be able to refund it with the original prices and delivery times, he said.

Rivian is facing ups and downs after its initial public offering in November, which raised approximately $ 12 billion, the most money from Facebook’s IPO in 2012. Rivian’s R1T was named MotorTrend Truck of the Year in December.

Rivian was sometimes valued more than Volkswagen, Ford and General Motors in 2021, but its shares fell 50% this year.

The carmaker is expected not to reach its target of producing 1,200 cars last year. He also plans to build his second manufacturing plant this year outside of Atlanta, Georgia. The factory must be able to produce up to 400,000 cars a year.

Scaringe said in a letter that the most important thing Rivian is building is customer relationships.

“We will make mistakes – this is part of building something complex. The key is to learn from them and deal with them when they are made,” he wrote. “That’s how we grow.”

Locals are seen in front of partially empty shelves in a supermarket in Kyiv, Ukraine, March 3, 2022.

Mikhail Markiv Reuters

Donations in cryptocurrencies such as bitcoin and etherium are pouring into Ukraine as the war with Russia enters its second week.

Since Moscow’s invasion on February 24, more than 102,000 donations of cryptocurrencies totaling $ 54.7 million have gone to the Ukrainian government and Come Back Alive, a non-governmental organization that provides military support, according to new data from the analysis firm. of the Elliptic blockchain. The increase includes a $ 5.8 million donation from Gavin Wood, founder of a lesser-known cryptocurrency called polkadot.

Donations have increased this week, with about 72,000 of these donations coming in the last two days. So far, the contributions consist of $ 18.2 million in ether, $ 17.2 million in bitcoins and $ 9.5 million in a combination of US dollar-bound stablecoins, including an anonymous $ 1 million donation in tetar, a controversial token designed to be pegged to the US dollar.

Accepting donations in cryptocurrency is new to the Ukrainian government. Until Saturday, all donations were to travel through traditional payment channels, but on February 26, the government decided to be creative.

Twitter accounts belonging to the Ukrainian government have been launched ask for donations of cryptocurrencies for the first time. The move came after the country’s central bank imposed measures against digital remittances in connection with a national declaration of martial law.

Cryptocurrencies such as bitcoin have become more popular as they allow consumers to bypass financial institutions that may block payments to Ukraine.

Elliptic says the addresses of bitcoin, ethereum, tron, polkadot, dogecoin and solana, listed on tweets, have received more than 96,000 cryptocurrency donations totaling $ 46.7 million, going directly to the government.

“Cryptocurrency is particularly suitable for international fundraising because it does not respect national borders and is resistant to censorship – there is no central body to block transactions, for example in response to sanctions,” said Elliptic chief scientist Tom Robinson.

Donations of irreplaceable tokens or NFT have also increased.

An CryptoPunk NFT worth more than $ 200,000 was sent to the Ukrainian government’s account in ethereum, and Elliptic says a single $ 1.86 million transaction appears to come from the sale of NFT, originally intended to raise funds for the Wikileaks founder Julian Assange.

Meanwhile, UkraineDAO sold NFT on the Ukrainian flag for $ 6.5 million on air, making it one of the most expensive NFTs ever sold. Elliptic says the proceeds will be donated to Come Back Alive.

But even as cryptocurrencies open new avenues for money for a country struggling with a major offensive, the numbers are fading compared to money flowing into the country from international allies such as the United States.

In addition to the $ 350 million the White House has approved for military aid to Ukraine, the Biden administration is asking Congress for $ 10 billion in immediate emergency aid to bolster humanitarian supplies, security forces and the economies of Ukraine and its Central European partners. Meanwhile, USAID has promised another $ 54 million in humanitarian aid to Kyiv.

A startup called Kytch, which is repairing damaged ice cream machines at McDonald’s, has filed a massive lawsuit against the fast food chain, according to Wired.

The startup’s co-founders, Melissa Nelson and Jeremy O’Sullivan, are seeking at least $ 900 million in damages.

Kitsch’s case was long overdue. They claim that McDonald’s was involved in fake advertising, among other schemes, Wired reported.

Since 2019, Kitsch says it has a phone-sized device designed to be installed in broken McDonald’s ice cream machines. These devices will then intercept the internal communications of the ice cream machines and send signals to a smartphone or web device to help store owners repair their machines.

But things got worse for Kytch and McDonald’s in November 2020, when the fast food chain sent an email asking all franchisees to remove the device from their machines.

McDonald’s claims that Kytch’s product violates the machine’s warranties, “captures confidential information” and even has the ability to “cause serious injury”.

“Nothing is more important to us than food quality and safety, so all equipment at McDonald’s restaurants is thoroughly inspected before being approved for use,” a McDonald’s spokesman told Wired. “After learning that the unapproved Kytch device was being tested by some of our franchisees, we made a call to better understand what it was and subsequently reported potential concerns for the safety of franchisees. There is no conspiracy here. “

Kitsch denied the allegations of human injury, calling it “slanderous.”

Nelson claims that the emails not only led to broken ice cream machines, but also led to a backlog of sales for the start-up company on takeoff.

“They have tarnished our name. They scared our customers and ruined our business. They were anti-competitive. “They lied about a product they said would be released,” Nelson told Wired. “McDonald’s had every reason to know that Kitsch was safe and had no problems. It was not as dangerous as they claimed. That’s why we’re judging them. “

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Dow Jones futures fell slightly overnight, along with S&P 500 and Nasdaq futures, after reports that Ukraine’s nuclear power plant was on fire. The stock market rally hit resistance at a key level on Thursday, turning lower with the Nasdaq, small capitalizations and particularly aggressive growth leading down.

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Meanwhile, investors will turn their attention to the report on jobs on Friday, which should be released before the stock market opens.

Invasion of Russia in Ukraine

The Zaporozhye nuclear power plant in southern Ukraine is on fire, the mayor of the local city said. Russian troops are moving to take over the nuclear power plant, the largest in Europe and one of the 10 largest in the world,

Earlier, Ukraine said it had reached an “agreement” with Russia on humanitarian corridors, allowing Ukrainian civilians to evacuate from besieged cities and launch humanitarian aid. This would include a local ceasefire around these corridors.

But Russian President Vladimir Putin said on television that his invasion of Ukraine was “going according to plan.” The Russian military is gaining ground, especially south of the Black Sea. But it suffered significant losses in troops and equipment. Economic pain continues to escalate with growing calls for sanctions on Russia’s energy sector.

French President Emmanuel Macron has said he fears “the worst is yet to come” after a lengthy telephone conversation with Russian dictator Putin. He said Putin seemed determined to continue his invasion of Ukraine until he controlled the entire country. Russia has used artillery and bombs to hit major cities, striking many residential areas.

Breakout of stocks

Union Pacific (UNP) exploded from a flat base during the day, although it reduced closing gains. Fellow railway operator CSX (CSX) flashes aggressive record.

of Warren Buffett Berkshire Hathaway (BRKB) also exploded. Berkshire, best known as the insurance giant, another pocket of market power, also owns the BNSF rail line. Having a huge investment in Apple (AAPL) also does not harm Berkshire.

Kroger (KR) deviated from the profit base while Farmer’s market for sprouts (SFM) also triggers purchase signals. Thor and lithium play SQM (SQM) jumped out of the base of exploding profits and bullish comments on prices.

But growth stocks lagged, especially high-value names. IN snowflake (SNOW) The sale of profits and guidelines led to heavy sales of many names.

This includes Datadog (DDOG) and Tesla (TSLA), two of the relatively outstanding three-digit PE stocks.

Key profits

Costco Wholesale (PRICE) and Broadcom (AVGO) headline on Thursday night’s winnings.

Costco’s profits and revenues exceeded the number of views. But sales growth in the same store, although above the official fiscal outlook for the second quarter, slow compared to Q1. Shares of COST fell slightly overnight. Shares rose 1% to 533.05 on Thursday. Shares of Costco have a point of purchase based on a glass of 571.59. Investors could use 534.34, just above the short-term resistance of the 50-day line, as an aggressive input.

Broadcom’s profits and guidance were better than expected. Shares of AVGO jumped 4% late. Shares fell 1.2% to 578.60 on Thursday. Broadcom shares are consolidating, but must exceed their 50-day line and a short-term aggressive entry high of 614.74. The official buying point is 677.86.

Shares of Tesla and Union Pacific are on the IBD Leaderboard, while shares of CSX have been added to the Leaderboard watch list. Union Pacific was also available for IBD Day on Thursday.

The video embedded in this article discusses market actions on Thursday and analyzes the shares of LPG, anthem (ANTM) and DDOG shares.

Job report

At 8:30 am ET, the Ministry of Labor will publish the report on jobs in February. Economists expect non-agricultural wages to rise by 390,000, with the unemployment rate falling to 3.9%. The labor force participation rate will be key as the Federal Reserve looks for signs of an increased workforce to ease bottlenecks in the supply chain and wage pressures.

The Fed is expected to raise interest rates by a quarter at its meeting on March 15-16. But the job report, the upcoming February consumer price index and Russia’s invasion of Ukraine may still change that decision.

Dow Jones futures today

Dow Jones futures are down 0.2% from fair value, turning from modest gains in a report that a nuclear power plant is on fire. S&P 500 futures fell 0.25%. Nasdaq 100 futures fell 0.2%.

Dow futures are sure to move, is the report on jobs in February before the market opened.

Crude oil prices rose by more than 1%.

The yield on 10-year government bonds fell by 4 basis points to 1.8%.

Remember that the action at night in Dow futures and elsewhere does not necessarily turn into actual trading in the next regular session of the stock market.

Join the IBD experts as they analyze the actions that can be taken in the stock market rally on IBD Live

Stock market rally

The stock market rally opened sharply, but declined almost immediately, with growth and low-cap stocks hit hardest.

The Dow Jones industrial average fell 0.35% in stock trading on Thursday. The S&P 500 index fell 0.6%. The Nasdaq index fell 1.6%. Russell 2000 with a small capitalization fell by 1.2%.

Crude oil prices fell 2.6% to $ 107.67 a barrel after exceeding $ 114 in pre-market trade. House Speaker Nancy Pelosi has called for a halt to Russian oil imports from the United States, which would have a relatively limited impact. However, most of Russia’s crude oil exports have failed to attract buyers. In addition to the Russia-Ukraine headlines, Western nations and Russia are making progress on a new Iranian nuclear deal. This will free up large Iranian crude oil exports.

Yields on 10-year government bonds also turned lower, falling by about 2 basis points to 1.84%.

ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) fell 0.1%, while the Innovator IBD Breakout Opportunities ETF (BOUT) lost 0.7%. The iShares Expanded Tech-Software Sector ETF (IGV) fell 2.5%. VanEck Vectors Semiconductor ETF (SMH) sank 2.2%.

The SPDR S&P Metals & Mining ETF (XME) was up 3.2%, while the Global X US Infrastructure Development ETF (PAVE) was up 0.5%. The US Global Jets ETF (JETS) was down 3.4%. The SPDR S&P Homebuilders ETF (XHB) fell 1.1%. The Energy Select SPDR ETF (XLE) was up 0.3% and the Financial Select SPDR ETF (XLF) was down 0.3%. The Health Care Fund for a selected sector SPDR (XLV) increased by 0.5%.

Reflecting more speculative stock histories, the ARK Innovation ETF (ARKK) was down 6.4% and the ARK Genomics ETF (ARKG) down 4.6%. Ark Invest has only minimal exposure to SNOW shares, but many of its highly acclaimed stakes failed on Thursday in the avalanche of Snowflake. Tesla shares remain No. 1 in ARK Invest’s ETFs.

Five best Chinese stocks to watch now

Railway operators

Shares of Union Pacific rose 1.15% to 256.21, closing close to the bottom of the session. That’s after reaching 263.59 during the day, above the buying point of 256.21 for most of the day, according to MarketSmith. The flat base is only 8% deep. The relative strength of LPG stocks is record high. The RS line, the blue line in the graphs provided, tracks stock performance against the S&P 500 index.

Shares of CSX jumped 2% to 35.29, closing exactly on its 50-day line. During the day, the shares cleared their February peaks, offering aggressive entry. The point of purchase on an equal basis is 38.11.

Berkshire Hathaway is best known for its insurance operations and Warren Buffett’s investments. But BNSF’s rail operations are a key part of the business. Shares of BRKB rose 1.2% to 327.63. This cleared the four-week tight with an official buying point of 325.73. Investors may view the mid-January consolidation as an unsettled flat base.

The rail advance is coming because shipping companies are generally doing well. Ocean carriers such as Star Bulk Carriers (SBLK) and Integrated delivery of Zim (ZIM) have been leading for a long time. in the meantime, JB Hunt Transport (JBHT) is applicable as other transport companies start to look interesting.

IBD Digital: Unlock IBD’s first-class stock lists, instruments and analysis today

Market rally analysis

The stock market rally opened on Thursday with the S&P 500 and Nasdaq moving above their 21-day moving average, while the Dow Jones reached just that level. But within a minute the major indexes receded and turned down,

The 21-day indicator acts as resistance to major indices for most of 2022. The Dow, S&P 500 and Nasdaq still face several other potential obstacles.

Thursday was an outdoor day for the Nasdaq, meaning its range within the day exceeded Wednesday’s highs and lows. External days are more meaningful. So the downside was even more discouraging.

Aggressive growth was killed on Thursday. Snowflake surpassed viewings late Wednesday, doubling revenue and slightly targeting higher for the current fiscal year. But that was not enough, as SNOW shares fell 15% to a nine-month low. Many other highly valued stocks, especially software, were also sold.

Shares of DDOG fell 9.7%, below its 50-day line.

Shares of Tesla, while performing much better than most EV games, fell 4.6%, back below its 21-day line, but simply managed to stay above its 21-day.

However, the attempt at a market rally remains intact. A follow-up may occur at any time to confirm the new uptrend.

Market Time with IBD’s ETF Marketing Strategy

What should we do now

Just because a high school student is in college doesn’t mean she’ll graduate from MIT with honors or even graduate from high school.

Wednesday’s strong gains, which were lower than in the previous session, were encouraging. But without a day of follow-up and the main indices are still fixed below the 21-day line, there was no reason to significantly add exposure.

Attempts to rally in the market may become a confirmed uptrend in the near future and this uptrend may have legs. But the news-oriented market could quickly head south. In addition, some sectors that have done well, especially in energy and raw materials, may fall into the background if broader indices are constantly running.

So, if and when the market rally shows strength, gradually increase your exposure. For now, investors may want to take at least partial profits from the winners when they reach 10%.

There is still nothing wrong with being all or almost all in cash.

Keep working on watch lists. Stay committed to be ready to turn the market around.

Read the Big Picture every day to stay in line with market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and others.

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Tesla vs. BYD: Which thriving EV giant is better to buy?

CNBC’s Jim Kramer warned investors on Thursday that buying a stock of high-tech stocks was a losing strategy in today’s turbulent market.

“The era of victories, promotions and buying, no matter what … is over for high-rise stocks. There are still many other stocks, but if you’re still betting on those who go back … I don’t think it will work, “said the Crazy Money presenter.

Growth stocks are particularly vulnerable to inflation, Kramer said, because it hits the value of future profits.

“You may think that these companies are the greatest things after sliced ​​bread, but professionals know not to pay so much for unprofitable sliced ​​bread when there is a spiral of inflation,” added the host.

Kramer said the decline in shares of Okta and Snowflake – whose CEOs were both in “Mad Money” on Wednesday night – means the last straw for investors who buy high-tech technology stocks and try to cash in later. .

Both stocks fell on Thursday after gaining fourth-quarter earnings the day before. Shares of Okta fell 8.06%, while Snowflake fell 15.37%.

“Given that there are so many followers of the Inertia Camp and so many ETFs focused on [cloud and cybersecurity] enterprises covered by [Snowflake and Okta]those two names literally toppled the proverbial houses of buyers of weak buyers and traders of high-growth stocks, Kramer said.

The presenter added that he believes that many such buyers have already left the market.

“The momentum is gone, the charts are broken. “They lost too much money,” he said.

A resident of the Ukrainian city of Kherson told Christian Amanpur told CNN that Russian troops were in Kherson, but insisted that the city was “a Ukrainian city and we want to remain a Ukrainian city.”

“Our city is flooded by Russian occupiers, but the flag is still Ukrainian and we hope it will remain Ukrainian,” said Svetlana Zorina, a 27-year-old Kherson resident. “We trust our mayor. We trust our government. We trust our army. We believe in our victory. We are a Ukrainian city and we want to remain a Ukrainian city, “Zorina said.

Kherson Mayor Igor Kolikhayev said on Wednesday in a statement shared on his Facebook page that the Ukrainian military is no longer in the city and that its residents must now follow the instructions of “armed men who have come to the city administration” – showing that the city has already fallen under Russian control.

British military intelligence, released early Thursday, noted that “some Russian forces have entered the city of Kherson”, but warned that the military situation on the ground “remains unclear”.

In a statement Thursday, Gennady Lahuta, head of the Kherson regional state administration, said Russian forces had “completely occupied” the regional state administration building.

Kherson resident Zorina described the situation in the city to Amanpur. “We try not to go out because it is dangerous. Today, for the first time, I learned to check near a shop a hundred meters from me if they have food, but there was nothing, because we are surrounded by Russians and it is impossible to deliver food or medicine here. “

“So we’re actually trying to save what we can and we have food supplies, but that will be enough for a few weeks,” she said.

Zorina said the city administration is carrying out tasks despite Russian misinformation. “Our mayor is in contact with us, the city administration is in contact with us. There are telegram channels. “There is a website of our mayor’s office and they share information, spread information with us,” she told CNN.

“There is a huge amount of propaganda that the Russians have tried to spread among Kherson and the Ukrainian people, as if we want to become part of Crimea. This is not true. We do not want. The mayor just tells us how the city will function in the next few days, that the transport will work for the people who work, you know, in the power plant, the water supply, and so on.

Asked by Amanpur about the Russian presence in the city, Zorina said that Russian soldiers “do not know why they came here, what their purpose is and are concerned – the Russian army treats soldiers very badly. They cry … our people feed them. ”

Zorina described the difficult humanitarian situation in the city as a result of the Russian aggression and said that there were “many civilian buildings that were destroyed … people sitting in apartments or basements, and pregnant women giving birth. children in basements. ”

“I do not want to leave. I do not want to become a refugee. I want to live in my country. I was born in Kherson. “I’ve lived here almost all my life and I don’t want to change it and I hope it will end soon and the Russian army will leave, the inhabitants will leave,” she said.

“I want to live in Ukraine. I am Ukrainian, “she added.

Traders based on the NYSE, February 24, 2022

Source: NYSE

Equity futures rose on Thursday night ahead of a key job report as investors followed the development of the war in Ukraine.

Dow Jones Industrial Average futures rose 53 points, or 0.2%. Those for the S&P 500 added 0.1%, while futures on the Nasdaq 100 rose 0.2%.

The moves come before the February report on the jobs of the Ministry of Labor. Economists polled by Dow Jones expect 440,000 jobs to rise and the unemployment rate to fall to 3.9 percent. Hourly wages are projected to increase by 5.8% on an annual basis.

This is the last report on jobs before the next meeting of the Federal Reserve, at which the central bank is expected to begin raising interest rates. Fed Chairman Jerome Powell said on Wednesday that he was in favor of an increase of 25 basis points in March. The base point is equal to 0.01%.

“I think that since we’ve seen Powell say, uncharacteristically frank, specifically that he plans to support a 25-point increase, that speculative thinking can be a little more anchored by raising 25 basis points, even if we see more “Stronger than expected tomorrow,” said Lauren Goodwin, an economist and portfolio strategist at New York Life Investments.

The wage growth component in the report could be a key data point as traders try to understand the path of road policy, Goodwin said.

“Even a 5.8% increase in wages is a reduction in wages if inflation creeps above 7%,” Goodwin said.

The war against Ukraine will also be in the minds of investors on Friday. Ukraine still holds its capital, Kyiv, more than a week after the fighting, although reports of shelling have increased in other major cities. One million Ukrainians have fled the country, according to the UN.

Meanwhile, economic sanctions from the United States and its allies have virtually cut off Russia’s economy from large parts of the global financial system. JPMorgan said in a note Thursday that Russia’s economy could shrink by 35% year-on-year in the second quarter.

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Profit reports have led to some major moves in expanded trade. Retailer Gap and restaurant chain Sweetgreen rose after expectations. Chipmaker Broadcom rose after outpacing earnings and revenue forecasts.

On Thursday, the three main averages closed lower after a volatile session. The Dow was positive for most of the day before closing 96 points lower. Nasdaq, pulled by software stocks, fell 1.56%.

The Dow was down 0.9% for the week, on its way to its fourth negative week in a row. The S&P 500 was down about 0.5% for the week, while the Nasdaq Composite was down more than 1%.