Dow, S&P, Nasdaq notch gains in wild Russian-Ukraine driven session
US crude nears $100 per barrel
Russia invading Ukraine 'worst possible scenario we could have imagined': Bill Browder
Bill Browder, the founder and CEO of Hermitage Capital Management, an investment fund and asset management company with experience in Russian markets, argues the U.S., U.K., Canada, Australia and Canada must 'go after' Vladimir Putin's money.
U.S. stocks, in a wild session of volatility, closed with gains after President Biden announced expanded sanctions on Russia following Vladimir Putin's launch of his long-anticipated military operation in Ukraine, sending investors out of risk and into safety.
The Dow Jones Industrial Average erased a deficit of more than 800 points to close with gains of over 90 points or 0.1% while the S&P 500 gained 1.5%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38085.8 | -375.12 | -0.98% |
| SP500 | S&P 500 | 5048.42 | -23.21 | -0.46% |
Still, the Dow and S&P are now in bear markets, off 10% from the most recent peak.
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Russian President Vladimir Putin (Yuri Kochetkov/Pool Photo via AP / AP Newsroom)
The Nasdaq Composite, which led the turnaround, gained over 3% helped by Microsoft, Tesla and Apple, which were among the heavily traded tech names.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:COMP | NASDAQ COMPOSITE INDEX | 15611.759799 | -100.99 | -0.64% |
| MSFT | MICROSOFT CORP. | 399.04 | -10.02 | -2.45% |
| AAPL | APPLE INC. | 169.89 | +0.87 | +0.51% |
| TSLA | TESLA INC. | 170.18 | +8.05 | +4.97% |
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The price of oil jumped on concern about possible disruption of Russian supplies. U.S. crude neared $99 per barrel, before easing and closing at $92.81 per barrel. Brent, the global benchmark, crossed $100 per barrel and settled at $99.08 per barrel.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 80.46 | +0.84 | +1.06% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 32.68 | +0.32 | +0.97% |
Gold climbed to $1,925.10 a new 52-week-high; still gold stocks gave back gains to close lower as stocks turned around.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - EUR ACC | 215.92 | +1.27 | +0.59% |
| NEM | NEWMONT CORP. | 43.41 | +4.80 | +12.43% |
| GOLD | BARRICK GOLD CORP. | 17.07 | +0.56 | +3.39% |
Elsewhere, defense makers including Lockheed Martin, Northrup Grumman and Raytheon rose on speculation that demand will rise for defense equipment on the heels of Russia's aggression.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LMT | LOCKHEED MARTIN CORP. | 464.94 | +5.77 | +1.26% |
| RTX | RTX CORP. | 101.74 | +0.72 | +0.72% |
| NOC | NORTHROP GRUMMAN CORP. | 488.23 | +13.76 | +2.90% |
Airlines got hit before rebounding to close with gains.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 49.90 | +1.96 | +4.08% |
| AAL | AMERICAN AIRLINES GROUP INC. | 14.13 | +0.21 | +1.51% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 53.51 | +0.84 | +1.59% |
In corporate news, Moderna shares got support after CEO Stephane Bancel predicted there is an 80% chance we are moving into an endemic, meaning COVID will be around forever.
"I think, what's going to happen is an annual booster, which is why, you know, we're working on adding flu to COVID vaccine in a single dose," he said on "Mornings With Maria."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 106.18 | -2.67 | -2.45% |
Live Nation shares also rose after reporting revenues of $2.7 billion, higher than expected, while also delivering an upbeat outlook for the forthcoming concert season.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LYV | LIVE NATION ENTERTAINMENT INC. | 88.48 | -1.19 | -1.33% |
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In cryptocurrencies, Bitcoin skidded to the $35,000 level before rebounding to $38,000.
Crypto exchange-traded funds and related crypto companies traded in tandem.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BITO | PROSHARES TRUST BITCOIN STRATEGY ETF | 28.22 | +0.37 | +1.33% |
| GCC | WISDOMTREE TRUST ENHANCED COMMODITY STRATEGY | 19.50 | +0.12 | +0.59% |
| MSTR | MICROSTRATEGY INC. | 1,240.41 | -25.26 | -2.00% |
| COIN | COINBASE GLOBAL INC. | 223.61 | -0.76 | -0.34% |
In Russia, the Moscow Exchange has suspended trading across all markets, so no trading in stocks or rubles, according to Bloomberg.
FOX Business' Ken Martin and The Associated Press contributed to this report.