Dow rebounds Wednesday as investors shake off intensifying Russia-Ukraine conflict, spiking oil

Tiger Newspress2022-03-02

Stocks rose on Wednesday despite a continued surge in oil prices surged amid the intensifying conflict between Russia and Ukraine.

The Dow Jones Industrial Average gained 228 points, or 0.7%. The S&P 500 and Nasdaq Composite added about 0.4% and 0.2%, respectively.

Oil and gas stocks and chip stocks rose, while silver and gold stocks fell.

Salesforce rose more than 3%, its fourth quarter revenue increased by 26% year-on-year, and the Q1 and full year revenue guidelines of fiscal 2023 exceeded market expectations.

Nordstrom rose more than 26%, and its fourth quarter profit soared fivefold to $200 million by the end of January.

Sofi rose more than 15%, and its new members increased by 39% to 523000 in the fourth quarter. It is expected that the adjusted revenue growth in the first quarter will be as high as 55%.

Corporate news helped push the market higher. Shares of Ford popped 4.6% in after the automaker announced it would split its electric vehicle and legacy production businesses into two separate units.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Sunshine_2
2022-03-03
Sunshine_2
Good
WaiSiong81
2022-03-03
WaiSiong81
👍
SCLIEW
2022-03-03
SCLIEW
666
simplydkam
2022-03-03
simplydkam
Like
superpopo
2022-03-03
superpopo
Good
JaiVenky
2022-03-03
JaiVenky
Noise

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