1. Chelsea Football Club for sale
Russian billionaire and owner of English Premier League heavyweight Chelsea Football Club, Roman Abramovich has said he is selling the club, instructing the board to set up a charitable foundation that will receive all net proceeds from the sale.“ The foundation will be for the benefit of all victims of the war in Ukraine,” Abramovich said in a statement on the Chelsea website. He and his advisors are seeking bids of at least $4bn. “While the U.K. has sanctioned more than 100 Russian individuals and entities in response to the invasion of Ukraine, Abramovich, 55, [and former governor of Chukotka] has so far remained off the list,” Bloomberg reports. 

2. Just a little bit
After months of speculation about what the US central bank would raise interest rates by, we now think we know. Federal Reserve boss Jerome Powell told the US Congress that he supports a traditional quarter-point increase in the Fed’s short-term interest rate when it meets later this month, rather than a larger increase that some of its officials and economists have been predicting. That could help explain why US stocks are up overnight and our market is tipped to be up 59 points today at the open.

3. The weird world of stock markets
Stocks rose overnight on European and US markets, despite a continued surge in oil prices and with the conflict between Russia and Ukraine intensifying. If there’s one economic development out of this war that could threaten the global economy and then stock markets, it’s the rise in the oil price, which actually spiked about 6% overnight to $US109 a barrel, a price not seen since 2011. And despite this, European markets all rose and the Dow Jones Index was up over 600 points before the close.

4. Go Fetch
There could be a new media player in the streaming TV space called, and wait for it, it could be Telstra! The SMH saysindustry sources have revealed secret deal talks that say Telstra was in advanced talks with Fetch, a long-time media partner of Optus, its main rival in the mobile and fixed-line telecoms markets. Fetch, gives customers access to content via the internet using set top boxes and are often included in sign-up packages from other telcos.

5. ASX back on the rise
ASX futures were up 48 points or 0.7% to 7141 near 7.10am AEDT, with the AUD +0.6% to 72.94 US cents. On Wall St near 3.15pm: Dow +1.8% S&P 500 +2% Nasdaq +1.7%. 2-year yield: US +0.19% (1.50%) Australia -0.09% (0.99%). 10-year yield: US +0.13% (1.85%) Australia -0.9% (2.07%).