Stocks Down Again On Russia/Ukraine Tensions  Image: Bigstock Stocks closed lower on Friday and for the week as tensions mount between Russia and Ukraine. After the close, the President gave a press conference where he said he believes Russia has already decided to invade. Although, he said he has no confirmation of that. And that he was still hoping diplomacy could prevail. U.S. Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov are scheduled to meet in Europe on Thursday, 2/24. Over the weekend, it was announced that President Biden and President Putin had tentatively agreed to meet 'in principle.' One of the stipulations from the U.S. was that Russia does not invade Ukraine before then or the meeting is off. After news of that broke, it was then reported that Russia recognized the independence of 2 breakaway regions (the Donetsk People's Republic (DPR), and the Luhansk People's Republic (LPR), both of which are Russian-backed separatist regions), in eastern Ukraine. Some believe that will give Russia the pretext for a full invasion of Ukraine to defend the DPR and LPR, which have been fighting Ukraine since 2014. Others believe it might show Russia's plans for a limited invasion of Ukraine to annex those two regions, which have long petitioned Ukraine to become a part of Russia. But diplomacy is still on the table. Although, shortly after that news broke, it was then reported that the White House and the EU are set to order sanctions on those 2 separatist regions. In the meantime, the world is watching as developments are happening fast over there. In other news, Friday's Existing Home Sales rose to 6.500 million units (annualized) vs. last month's 6.090M and the consensus for 6.088M. E-Commerce Retail Sales for Q4 were up 1.7% q/q vs. the previous quarter's -3.2%. But the Leading Indicators report slipped -0.3% vs. last month's 0.7% and views for 0.3%. It's a shame that the world has to worry about war with Russia and Ukraine. Most economies around the globe are rebounding nicely. And with Omicron cases dropping in most countries (especially in the U.S.), and Covid restrictions being lifted, this should be a time of celebration, both economically and from a personal perspective. So it's too bad this has become the focus. Hopefully war can be averted. And if not, let's hope it's short and with minimal loss of life. But this will eventually pass. And the good news that's being overlooked right now should soon become the new focus. Because the pent-up economic demand in the U.S. and around the world will help usher in a multiyear boom. So make sure you're taking full advantage of it. See you tomorrow,  Kevin Matras
Executive Vice President, Zacks Investment Research | 
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