1. Russia-Ukraine tensions return to near all-time highs
Relief that Russia was scaling back its military presence around the Ukraine border was short-lived as US President Joe Biden warned on Thursday the probability of an invasion is still “very high”. Developments see US Secretary of State Antony Blinken attempting to schedule a meeting with his Russian counterpart Sergei Lavrov in Europe next week. “Kyiv said Russia-backed separatists increased their shelling of the Ukrainian army across Thursday,” Bloomberg reports.

2. RBA contends with uncertainties standing in the way of a rate rise
While RBA Governor Philip keeps a watchful eye on determining factors such as our lowering unemployment rate and increasing price tags, the central bank wants to keep its options open for a potential rate rise given uncertainties over the reopening of the international border, a change of office in the federal government, and fluctuations in the price of iron ore. As for wage gains, Lowe “has repeatedly stressed that such pay gains are likely to take some time given the inertia in Australia’s wage-setting process and higher labor market participation compared with the U.S. or U.K.”.

3. Elon Musk at it again with another contentious tweet
A tweet so controversial that it appears to have been deleted by the world’s richest person and Tesla and SpaceX CEO. The tweet is said to have been making a satirical comparison between Canadian Prime Minister Justin Trudeau and Adolf Hitler following new legislation passed down in Canada aimed at cutting off funds to protesters who have blocked border crossings and camped out in Canada’s capital.

4. Origin Energy to expedite closure of Australia’s largest coal-fired plant
Power and gas behemoth Origin Energy notified authorities on Thursday that it intended to shut down the 2880-megawatt Eraring generator at Lake Macquarie in NSW in 2025, saying “rapidly changing” energy market conditions had hammered the plant’s viability. “Eraring, originally slated for closure in 2032, has been under intensifying pressure as the roll-out of renewable energy radically reshapes the market and slashes daytime wholesale electricity prices to levels where it is increasingly struggling to compete,” SMH reports.

5. Wall St hit by Ukraine concerns, ASX futures follow suit
ASX futures down 52 points or 0.7% to 7161 near 5.34am AEDT, with the AUD +0.1% to 71.98 US cents. On Wall St: Dow -1.1% S&P 500 -1.2% Nasdaq -1.9%. 2-year yield: US -0.06% (1.48%) Australia -0.05% (1.15%). 10-year yield: US -0.06% (1.98%) Australia -0.03% (2.20%).