Today's Wall Street forecast: A potential decline following Russia's invasion of Ukraine.

BY THE NUMBERS

On Thursday, global markets plummeted after Russia invaded Ukraine, causing the Dow and S&P 500 futures to drop more than 2% each, and Nasdaq futures to sink nearly 3%. This decline would put the market in bear market territory, defined as a 20% or more decline from recent highs. On Wednesday, the S&P 500 and Nasdaq joined the Dow in correction territory, with the Dow and Nasdaq logging their fifth and fourth straight sessions of losses, respectively. Investors sought the perceived safety of bonds, pushing prices higher and yields lower on Thursday. The benchmark fell to 1.86%. (CNBC)

On Thursday, international oil prices surged more than 8%, with both barrels topping $100 for the first time since 2014. American oil companies, including CVX and XOM, were among the beneficiaries in premarket trading. The reason for the price increase was a 6% surge in oil and natural gas production by Russia, a major global producer. This spike in energy prices could exacerbate soaring inflation in the U.S. and complicate the Federal Reserve's path for multiple interest rate increases this year. Central bankers must weigh the possibility of even stronger price pressures against a potential knock on the economy and markets, which could argue for a more gradual tightening.

On Thursday, gold's price surged more than 3% to over $1,970 per ounce, marking the highest prices in over a year. Bitcoin, viewed as a store of value like gold, plummeted roughly 7% to a one-month low of around $35,100. Bitcoin has fallen about 50% from its all-time highs in November.

IN THE NEWS TODAY

Russia launched a wide-ranging attack on Ukraine on Thursday, including airstrikes in cities and bases, and ground movements. Ukraine's government accused Moscow of unleashing a "full-scale war" after Russian tanks and troops rolled across the border. Russian President Vladimir Putin said the goal of the "special military operation" in Ukraine is "demilitarization." Meanwhile, U.S. President Joe Biden is expected to address the nation Thursday afternoon. Ahead of the attack, the United States and other Western nations levied sanctions against Russia. A second wave of economically punitive measures is widely expected. NATO will "further increase our presence in the eastern part of the alliance" in the coming days and weeks, Secretary-General Jens Stoltenberg said Thursday.

NCLH's premarket trading fell 7% after reporting a wider-than-anticipated quarterly loss and revenue that missed estimates. This is part of the travel stocks under pressure this morning due to Russia's invasion of Ukraine.

Despite the company's warning of negative impacts of Covid on travel, BKNG reported adjusted quarterly earnings of $15.83 per share, exceeding the $13.64 consensus estimate and revenue forecasts. However, shares fell 7.6% in the premarket due to weakness in travel stocks.

MRNA expects to sell at least $19 billion of its Covid vaccine this year, after reporting quarterly results that exceeded analyst earnings and revenue estimates. Despite this, the company's shares fell about 5% in the broader premarket sell-off.

EBay exceeded earnings estimates by 6 cents with a quarterly earnings per share of $1.05, while its revenue was in line with forecasts. However, the stock is under pressure after eBay forecast weaker-than-expected current quarter results. EBay lost 8.4% in premarket action.

STOCKS TO WATCH

Despite a down market, LYV's stock jumped 5.4% after reporting better-than-expected quarterly revenue and announcing it has already sold 45 million tickets for 2022 events, with ticket prices rising substantially.

In its latest quarter, SEAS earned 92 cents per share, surpassing the 29 cent consensus estimate. Revenue also exceeded expectations, more than doubling a year ago, with park visitors spending more per person than they had before the pandemic.

Gannett's stock price dropped 13.6% in the premarket after it announced a wider-than-expected loss and lower revenue for its latest quarter. Despite this, the company expects to remain profitable this year.

Despite reporting its slowest-ever growth in quarterly revenue since going public in 2014, BABA's premarket trading fell only 2.5%. Sales fell below analyst forecasts due to intensified competition, but its quarterly earnings beat estimates.

Wayfair's international sales declined by a double-digit, which pressured their results and caused them to slide 9.5% in the premarket after posting a wider-than-expected quarterly loss.

Despite increased costs, PZZA reported better-than-expected profit and revenue for its latest quarter, with profit margins improving. However, Papa John's did not provide 2022 guidance due to uncertainties related to Covid-19.

Despite revenue falling slightly short of analyst projections, Hertz beat estimates by 15 cents with an adjusted quarterly profit of 91 cents per share. The car rental company's demand for rental cars remained strong during the quarter, although it is still experiencing post-bankruptcy restructuring expenses. Hertz fell 8.4% in the premarket amid an overall drop in travel stocks.