U.S. stocks rose Tuesday on positive talks between Russia and Ukraine and as investors scooped up large-cap tech names.
|I:DJI||DOW JONES AVERAGES||30967.82||-129.44||-0.42%|
|I:COMP||NASDAQ COMPOSITE INDEX||11322.237524||+194.39||+1.75%|
The S&P 500 rose 1.2% exiting the correction it entered in February when it fell 10% below its last peak. The Dow Jones Industrial Average tacked on over 339 points or 0.9% and the Nasdaq Composite jumped 1.8%
Negotiators for Ukraine and Russia began another round of talks Tuesday aimed at stopping the fighting, and reports indicate progress is being made.
The developments helped push U.S. oil down to $104.24 per barrel. Gold fell for the third straight session to $1,912 an ounce.
|USO||UNITED STATES OIL FUND L.P.||74.78||-6.89||-8.44%|
|BNO||UNITED STS BRENT OIL FD LP UNIT||30.82||-2.52||-7.57%|
|GLD||SPDR GOLD SHARES TRUST - EUR ACC||164.73||-3.59||-2.13%|
In stocks, United Health will purchase Optum, part of LHC and an in-home health care services company, for $170 per share in a deal valued at $5.4 billion.
|UNH||UNITEDHEALTH GROUP INC.||505.24||-12.16||-2.35%|
|LHCG||LHC GROUP INC.||155.96||+0.91||+0.59%|
In other deal news, Nielsen Holdings will be acquired in an all-cash deal valued at $16 billion, including debt, by private equity firms Brookfield Asset Management and Elliott Management Corp.
|NLSN||NIELSEN HOLDINGS PLC||23.45||-0.17||-0.72%|
Morgan Stanley confirmed to FOX Business it plans to enter the exchange traded fund business by launching a "first-class ETF platform" later this year. The move is taking on rivals, including BlackRock and State Street.
|STT||STATE STREET CORP.||63.07||-0.31||-0.49%|
Meme stocks AMC, GameStop and Bed Bath & Beyond remain active triggering at least one trading halt on the New York Stock Exchange.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||12.78||-0.75||-5.54%|
|BBBY||BED BATH & BEYOND INC.||4.64||-0.07||-1.49%|
FedEx Corp shares in focus after CEO Fred Smith announced he will move to an executive chair role in June. Raj Subramaniam will be replacing Smith as CEO and president effective June 1, the package-delivery giant announced Monday.
Chip makers in focus with Micron set to report after the bell.
|MU||MICRON TECHNOLOGY INC.||56.73||+3.08||+5.74%|
Other earnings due later today include Chewy, Lululemon, Restoration Hardware and Virgin Orbit.
|LULU||LULULEMON ATHLETICA INC.||283.62||+20.24||+7.68%|
In cryptocurrencies, Bitcoin hovered around the $47,000 level.
In economic data, The Conference Board released its March consumer confidence index, which rose to 107.2, lifting off from the lowest level since February 2021.
And home sales surged by over 19%, according to Case-Shiller's latest data for January, with 16 of 20 cities notching price increases.
The Associated Press contributed to this report.