Tuesday will be the first trading day of March.
"The Russia/Ukraine crisis will continue to produce market volatility, but the direct impact on corporate earnings should be small. Indirect risks are more substantial, given effects of higher commodity prices on inflation, growth, and consumers," Kolanovic said in a Monday afternoon note."However, one silver lining is that the crisis forced a dovish reassessment of the Fed by the market.
Investors are also gearing up to hear from Federal Reserve Chair Jerome Powell in his semiannual hearing at House Committee on Financial Services, which begins on Wednesday. Monday also marked the final trading day of February. The Dow lost 3.5% in February. The S&P 500 and Nasdaq fell 3.1% and 3.4%, respectively, this month.
Looking to Tuesday, big box retailer Target reports earnings before the bell and cloud giant Salesforce reports after the close. On the economic front, February's Markit Manufacturing PMI will be released at 9:45 a.m. on Tuesday. ISM manufacturing PMI for February will be out at 10:00 a.m.
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