MarketWatch: Dow finishes up over 400 points as stocks extend rally
Stocks ended higher Thursday, extending their weekly gains, a day after the Federal...
Stocks ended higher Thursday, extending their weekly gains, a day after the Federal Reserve increased its policy rates for the first time since 2018 and kicked off a new era of tighter financial conditions to help combat inflation. The Dow Jones Industrial Average DJIA rose about 416 points Thursday, or 1.2%, ending near 34,479. That put the blue-chip index up for its 4th day in a row, despite volatile trading sparked earlier in the week by concerns about potential aftershocks of the pandemic saddling the economy with stagnating growth and persistently high inflation, particularly with commodities shooting higher with the war in Ukraine. The S&P 500 indexSPX rose 1.2% Thursday, with its energy segment up the most at 3.5%, while the Nasdaq Composite Index gained 1.3%. For the week so far, the Dow was up 4.7%; S&P 500 was advancing 4.9%; the Nasdaq by 6%, according to FactSet.
Coronavirus Update From Twitter: Experts fear Europe case rise is harbinger of new U.S. wave
A rise in COVID-19 cases in Europe driven by the highly contagious omicron variant is fueling concerns...
A rise in COVID-19 cases in Europe driven by the highly contagious omicron variant is fueling concerns that it will be followed by a new wave of cases in the U.S., which has typically lagged Europe by a matter of weeks.
WTI and Brent crude oil futures are up (WTI +$7.53, @$102.57) ...
WTI and Brent crude oil futures are up (WTI +$7.53, @$102.57) (BRENT +$8.12, @$106.14) attempting to break a three-day losing streak. Oil futures rose after the EIA said three million bpd of Russian oil and products could be shut in from next month. The supply loss would be far greater than an expected drop in demand of one million bpd triggered by higher fuel prices. Morgan Stanley raised its Brent price forecast by $20 for the third quarter of 2022 to $120 a barrel, predicting a fall in Russian production of about 1 million bpd from April. Also, Russia's invasion of Ukraine has drawn a lengthening list of Western sanctions and prompted some customers to stop buying its oil, raising concerns over global supplies. However, Russian seaborne crude oil exports in March have increased from last month.
U.S. stocks and government bond yields edged down after the...
U.S. stocks and government bond yields edged down after the Federal Reserve raised interest rates for the first time since 2018 and oil soared as the market’s focus returned to the Ukraine war.
The S&P 500 declined 0.4% in early trading after the broad-market index closed more than 2% higher on the past two consecutive days. The Nasdaq Composite Index fell 0.7%, as technology stocks suffered modest losses after the opening bell. The Dow Jones Industrial Average dropped 0.4%, or 130 points.
