Dow adds 422 points, Nasdaq jumps 2.5% as Russia eases off Ukraine

Producer Prices jumped 9.7% in January matching a record high

U.S. stocks rose across the board as the conflict between Russia and Ukraine appeared to ease and even as the Producer Price index, the latest check on inflation at the wholesale level, rose 9.7%, matching a record high from the prior month. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 32698.16 +577.88 +1.80%
SP500 S&P 500 4063.3 +84.57 +2.13%
I:COMP NASDAQ COMPOSITE INDEX 11755.275096 +320.53 +2.80%

The Dow Jones Industrial Average tacked on 422 points or 1.2%, while the S&P 500 gained 1.6% and the Nasdaq Composite 2.5%. 

Oil settled at $92.07 on reports Russian forces are pulling back from Ukraine. Even so, oil giants ExxonMobil and Chevron dipped. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 82.48 +0.48 +0.59%
XOM EXXON MOBIL CORP. 96.30 +1.90 +2.01%
CVX CHEVRON CORP. 175.41 +2.77 +1.60%

Stocks on the move included Activision after Warren Buffett's Berkshire Hathaway disclosed a new stake of nearly 15 million shares purchased ahead of Microsoft's $69 billion takeover. 

Ticker Security Last Change Change %
ATVI ACTIVISION BLIZZARD INC. 77.71 +0.68 +0.88%
MSFT MICROSOFT CORP. 262.52 +2.90 +1.12%

In other deal news, Intel is buying Tower Semiconductor for $5.4 billion.

Ticker Security Last Change Change %
INTC INTEL CORP. 42.20 +0.53 +1.27%
TSEM TOWER SEMI. 47.72 +0.72 +1.53%

"This deal will enable Intel to offer a compelling breadth of leading-edge nodes and differentiated specialty technologies on mature nodes – unlocking new opportunities for existing and future customers in an era of unprecedented demand for semiconductors," said Intel CEO Pat Gelsinger.

Chipmakers Nvidia and AMD rose in tandem.

Ticker Security Last Change Change %
NVDA NVIDIA CORP. 178.90 +9.15 +5.39%
AMD ADVANCED MICRO DEVICES INC. 92.65 +1.49 +1.63%

Shares of Virgin Galactic jumped 31% as the space giant begins to take reservations for trips. The starting cost: $150,000 to reserve a seat.

Ticker Security Last Change Change %
SPCE VIRGIN GALACTIC HOLDINGS INC. 6.47 +0.29 +4.69%

REGULATORS PROBE BLOCK TRADING AT MORGAN STANLEY, GOLDMAN, OTHER WALL STREET FIRMS

Ticker Security Last Change Change %
VIAB n.a. n.a. n.a. n.a.
WYNN WYNN RESORTS LTD. 59.72 +1.53 +2.63%
ABNB AIRBNB INC. 114.92 +4.53 +4.10%

After the close media and entertainment company ViacomCBS, online lodging marketplace Airbnb and high-end hotel and casino operator Wynn Resorts will also provide a picture into their earnings. 

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The Associated Press contributed to this report.