Closing Update: Stocks Race Higher After Russia Blinks on Ukraine

By
A A A

Stocks rallied Tuesday to reverse Monday's losses after Russian troops retreated from their offensive positions in Crimea, calming immediate global worries about a possible Russian invasion of Ukraine. Investors poured back into equities in the U.S. and Europe, chasing the S&P 500 to another record high and the Dow Industrials up by more than 200 points.

Safe-haven assets such as government bonds and precious metals gave back yesterday's gains, while oil prices fell as the likelihood for a disruption in supply was alleviated once tensions between Russia and the West eased.

In corporate news, shares of Radio Shack ( RSH ) fell by as much as 23% when the beleaguered retailer announced disappointing earnings and plans to shutter 1,100 stores. Delta Air Lines ( DAL ) hit a seven year high on increased Trans-Atlantic traffic, while alternative energy stocks such as Plug Power ( PLUG ) and Ballard Power Systems ( BLDP ) soared amid rising energy prices and optimism surrounding increased corporate interest in alternative fuel technology.


Wednesday should begin with more downbeat news on the economy starting with ADP private payrolls, expected to increase by only 150,000 in February following a 175,000 gain the month prior.

Also, The Institute for Supply Management non-manufacturing index is expected to fall back slightly to 53.0 last month from 54.0 in January.

Here's where the markets stand at the close:

US MARKETS

Dow Jones Industrial Index was up 227 points (+1.4%) to 16,395

S&P 500 was up 28 points (+1.5%) to 1,873

Nasdaq Composite Index was up 74 points (+1.8%) to 4,351

GLOBAL SENTIMENT

FTSE 100 was up 1.72%

Nikkei 225 was up 0.47%

Hang Seng Index was up 0.70%

Shanghai China Composite Index was down 0.18%

UPSIDE MOVERS

MLNK Reported margin improvement and operating income

JCP S&P raises outlook to Stable from Negative

INSY Beats Q4 earnings estimates, announces stock split

OXBT U.S. FDA lifted its clinical hold on Oxycyte

DOWNSIDE MOVERS

BLRX Priced 8.4 million ADRs at $2.50 each, a 14% discount to Monday's closing price

DNDN Downgraded by Berstein to Market Perform from Outperform

FST Motley Fool raises doubts about company's decision to drill in Eagle Ford



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: RSH , DAL , PLUG , BLDP

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

33,974,386
  • $17.98 ▲ 0.28%
20,763,901
  • $91.29 ▲ 2.06%
19,110,793
  • $7.26 ▼ 1.22%
18,528,869
    $8.33 unch
18,014,920
  • $4.19 ▼ 1.18%
16,448,919
  • $25.83 ▼ 0.19%
14,748,190
  • $7.60 ▼ 1.43%
14,144,383
  • $112.01 ▼ 0.47%
As of 12/24/2014, 02:12 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com