Market Watch: Dow futures climb about 500 points as commodity prices ease amid war in Ukraine

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Stock futures posted strong gains early Wednesday as investors assessed a surge in commodity prices and high inflation while the war in Ukraine continues.

Futures tied to the Dow Jones Industrial Average rose 510 points, or about 1.6%. S&P 500 futures climbed 1.7% and Nasdaq 100 futures gained 2.1%.

The gains came amid an easing in commodity prices that have spooked the broader market. Energy and agriculture products in particular have catapulted higher amid the fighting in Ukraine, while some metals also have posted major gains.

West Texas Intermediate crude, the U.S. oil benchmark, was last down 2.2% to $120.92, while Brent crude, the international standard, fell 1.7% to $125.78. What futures also were sharply lower, falling 5% to $1,215.50 a bushel, though palladium

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