Stock futures are lower as investors continue monitoring rising commodities prices and the ongoing war in Ukraine

cnbc.com:

Stock futures were lower Tuesday evening as investors continued to assess a surge in commodity prices and high inflation while the war in Ukraine continues.

Futures tied to the Dow Jones Industrial Average fell 36 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures lost 0.2% and 0.3%, respectively.

The major averages all closed lower after a day of choppy trading. The Dow gave up a 585-point gain to end the day lower by 184 points, or 0.5%, falling deeper into its correction. The S&P 500 slid 0.7%, also moving into correction territory. The Nasdaq Composite lost 0.2%, after entering bear market territory Monday.

The market volatility was driven by uncertainty among investors as they continued to assess surging prices in commodities like oil, gasoline, natural gas and precious metals. That fueled concerns about a slowdown in global growth amid surging inflation.

It remains to be seen if the Federal Reserve will manage a soft economic landing, but the U.S. should be able to avoid a recession, according to Ross Mayfield, investment strategy analyst at Baird.

«The strength of the U.S. labor market, consumer and aggregate corporate sector should act as the weight to keep us out of recession near-term,» he told CNBC. «Overall, volatility is likely to persist, [there's a] wide range of outcomes possible in Ukraine, but the fundamentals of the U.S. economy still look decent, especially if the Fed can navigate raising rates without breaking demand.»

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