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Markets react to Ukraine crisis; February auto sales; Apple debuts CarPlay; Microsoft executive shuffle

Hot Stock Minute

Stock futures were sharply lower this morning on rising concerns about the crisis in Ukraine. Oil prices spiked, with NYMEX crude up as much as 2% this morning. Investors rushed into the relative safety of gold as well, sending prices up nearly 2% in early trading. Treasury prices also rose, with the yield on the 10-year note dipping briefly below 2.6%. Wall Street largely ignored the situation in Ukraine the last couple of weeks, but that changed over the weekend. Yahoo Finance Editor-in-Chief Aaron Task discusses the market reaction to the crisis in Ukraine in today’s Hot Stock Minute.

Also this week, investors will have one eye on Washington. President Obama will send his 2015 fiscal year budget request to Congress on Tuesday. The $1.014 trillion budget was agreed to in a deal last December by Republican House Budget Committee Chair, Congressman Paul Ryan and Democratic Senate Budget Committee Chair, Senator Patty Murray. This year's debate begins with hopes of avoiding the partisan rancor that has led to standoffs and government shutdowns in recent years.

In his annual letter to Berkshire Hathaway shareholders, Warren Buffett said that while his company invests abroad, he believes the mother lode of opportunity resides in America. In our poll today, tell us if you agree or disagree with Buffett’s assessment of the U.S. Cast your vote and post your comments below as well.

Among the stocks the Yahoo Finance team will be watching for you today: Apple (AAPL). The company today unveiled a new app called CarPlay that allows users to connect their iPhones to their cars. The app will allow drivers to make calls, listen to voicemails, use maps and listen to music all through voice or touch controls. The app will be rolled out by Ferarri, Mercedes and Volvo this week. Many more car companies, including BMW, Ford and General Motors also plan to offer CarPlay in the future.

The executive shakeup has begun at Microsoft (MSFT). Two top executives will leave the company, according to Re/Code. EVP of business development and evangelism Tony Bates and EVP of marketing Tami Reller, who both report directly to new CEO Satya Nadella, will leave the company. Mark Penn, former adviser to Hillary Clinton, reportedly will take over as Chief Strategy Officer. The shakeup is the biggest yet under Nadella's management. Shares of Microsoft are up more than 5% since Nadella was named CEO on February 4th of this year.

Men's Wearhouse (MW) today said it received a draft merger agreement from rival, Jos. A. Bank (JOSB). The companies also have agreed to exchange confidential information and enter good faith discussions to evaluate a potential merger. The two companies have been in a standoff for months over which company will take over the other.