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Stock volatility greets March, Russia-Ukraine latest, oil prices climb: LIVE UPDATES

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Ford suspends joint-venture operations in Russia, pledges $100k donation to help Ukrainians

Statement from Ford:

"As part of the global community, Ford is deeply concerned about the invasion of Ukraine and the resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia.  In recent years, Ford has significantly wound down its Russian operations, which now focus exclusively on commercial van manufacturing and Russian sales through a minority interest in the Sollers Ford joint venture. Given the situation, we have today informed our JV partners that we are suspending our operations in Russia, effective immediately, until further notice. 

While we don’t have significant operations in Ukraine, we do have a strong contingent of Ukrainian nationals working at Ford around the world and we will continue to support them through this time.

Ford Fund is also making a $100,000 donation to the Global Giving Ukraine Relief Fund for humanitarian aid to assist Ukrainian citizens and families who have been displaced during this crisis."

Posted by FOX Business Team
Breaking News

Dow shaves off nearly 600 points...

XLE $71.31+0.70+0.99%
SP500$4,306.26 -67.68-1.55%

Energy stocks bucked the selling on Wall Street as U.S. oil hit $106 per barrel, the highest since 2014 amid the Russia-Ukraine conflict.

The rest of the S&P's large sectors fell led by financials.

Posted by FOX Business Team

Apple issues statement on Russia

From Apple:

"We are deeply concerned about the Russian invasion of Ukraine and stand with all of the people who are suffering as a result of the violence. We are supporting humanitarian efforts, providing aid for the unfolding refugee crisis, and doing all we can to support our teams in the region.

We have taken a number of actions in response to the invasion. We have paused all product sales in Russia. Last week, we stopped all exports into our sales channel in the country. Apple Pay and other services have been limited. RT News and Sputnik News are no longer available for download from the App Store outside Russia. And we have disabled both traffic and live incidents in Apple Maps in Ukraine as a safety and precautionary measure for Ukrainian citizens.

We will continue to evaluate the situation and are in communication with relevant governments on the actions we are taking. We join all those around the world who are calling for peace."

Posted by FOX Business Team
Developing Story

Google, Apple to block Russian state media

Posted by FOX Business Team

President Biden to release 30 million barrels from the US Strategic Petroleum Reserve

President Biden is set to authorize the release of 30 million barrels of oil from strategic reserves as concerns grow that Russia's invasion of Ukraine will continue to impact energy prices.

"Russia's actions in Ukraine have resulted in energy supply shortages of significant scope and duration and have already caused a substantial increase in oil prices worldwide that threatens to slow United States economic growth at this critical point in our economic recovery," reads a White House memorandum.

Posted by FOX Business Team

Posted by FOX Business Team

Posted by FOX Business Team

State of the Union - Guests from the business world...

The White House Announces Guest List for the First Lady’s Box for the 2022 State of the Union Address...


Patrick “Pat” Gelsinger, Chief Executive Officer, Intel. On January 21, 2022, Gelsinger announced one of the largest investments in a semiconductor manufacturing facility in recent U.S. history. Construction on a $20 billion Intel facility near Columbus, Ohio, will begin this year built by union labor, creating over 7,000 construction jobs and another 3,000 jobs running the high-tech facility.  

and Frances Haugen, Facebook whistleblower and fmr. lead product manager.

Posted by FOX Business Team

State pension funds exit Russian investments...

State Treasurers are joining America's biggest companies and cutting ties with Russia investments. AR, CT, VA, PA, MO...

Posted by FOX Business Team

Oil prices have not yet hit the peak amid Russia, Ukraine tension: Investment expert

Wheelhouse Chief Investment Officer Ann Berry argues oil prices are contingent on how the situation in Europe evolves amid the potential issuance of more sanctions.

Posted by FOX Business Team
Developing Story

Stock selloff steepens


Selling has picked up for U.S. stocks, while oil climbs.

Posted by FOX Business Team
Breaking News

Oil nears $106 per barrel


Despite the IEA's coordinated release of oil stockpiles, crude keeps climbing.

Posted by FOX Business Team
Breaking News

The IEA agrees to release 60M barrels of oil from global SPR


The International Energy Agency which is a group that represents consuming nations have agreed to release 60 million barrels from the global strategic petroleum reserves the bulk of the release will be by the United states where they will add 30 million barrels to the global supply. 

Posted by FOX Business Team

Retailers buck downtrend of broader market


Target and Kohl's delivered better-than-expected forecasts for 2022, joining Walmart's similar move last month.

All three are sidestepping inflation for now...

Posted by FOX Business Team

Russia, Ukraine latest and oil strategy...

Gen. Jack Keane talks Russia-Ukraine latest, oil strategy...

Posted by FOX Business Team
Breaking News

US Oil Tops $100 per barrel...


Oil prices in the U.S. surged past $100 per barrel Tuesday morning...

Posted by FOX Business Team
Breaking News

Target shares jumped over 10% in pre-market trading...


Target's same-store sales jumped nearly 9% with most of those sales taking place in stores.

"Our strong fourth-quarter performance capped off a year of record growth in 2021, reinforcing the durability of our business model and our confidence in long-term profitable growth," said Brian Cornell, chairman and CEO of Target.

Boosts Outlook for 2022

low- to mid-single digit revenue growth

an operating margin rate of 8%+ or higher

low-single digit growth in operating margin dollars

high-single digit growth in adj. per share

Posted by FOX Business Team

Crypto higher early Tuesday

Cryptocurrency was surging early Tuesday morning with both Bitcoin and Ethereum reporting percentage hikes in double digits and Dogecoin up more than 7.25%.

At 4:30 a.m., Bitcoin was trading at around $43,390, up a whopping 13.23%, while Ethereum was worth slightly above $2,900 (up 10.53%) and Dogecoin at 13.25 cents, respectively, according to Coindesk.

Posted by Jack Durschlag

Stocks continue to whipsaw between positive, negative territory

U.S. stocks were whipsawing again early Tuesday morning as markets spent most of the night in negative territory or at close to the break-even point.

Tuesday will be a busy day for retail earnings with Target, Kohl’s, AutoZone and Chico’s FAS reporting ahead of the opening bell. After the close, Ross Stores, Nordstrom and Urban Outfitters are expected to announce earnings.

In addition, watch for results from Dow member in the afternoon.

On Wall Street, the S&P 500 fell as much as 1.6% Monday and then recouped much of that to finish 0.2% lower at 4,373.94. The Dow Jones Industrial Average fell 0.5% to 33,892.60 and the Nasdaq composite rose 0.4% to 13,751.40, recovering from a 1.1% slide.

Posted by Jack Durschlag

Oil futures rose on Tuesday morning, following a volatile start to the week, as the market weighed a coordinated international release of crude inventories against Russian supply disruptions in the wake of Moscow's invasion of Ukraine.

May Brent crude futures, which began trading as prompt on Tuesday, gained about 1% at 0141 GMT to $98.90. The benchmark touched a seven-year high of $105.79 after Russia's invasion of Ukraine began last week.

U.S. West Texas Intermediate (WTI) April crude futures were up about 0.8% at $96.53. That contract touched a high of $99.10 a barrel the previous day, and had settled up more than 4%.

Posted by Reuters

Volunteer hackers join Ukraine’s fight against Russia

Websites for the Russian Foreign Ministry as well as the country’s largest stock exchange and a key state-owned bank were offline Monday, as loosely organized groups of volunteer hackers pledged to retaliate against the Kremlin for its invasion of Ukraine.

An "IT army" created by the Ukrainian government urged more than 200,000 followers on its Telegram channel Monday to attempt to take down the website of the Moscow Exchange.

Thirty-one minutes later, the channel’s administrators shared a screenshot suggesting the exchange’s website had been knocked offline.

"Mission accomplished!" they wrote in English.

Posted by The Wall Street Journal

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