Russian Troops Pull Back From Ukraine Giving Futures Room To Rally

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Global equity markets breathed a collective sigh of relief overnight and into Tuesday morning when Russian President Vladimir Putin ordered the Russian military to suspend its exercises off the border of Ukraine. Investors poured back into the U.S. futures market, driving the S&P 500 futures more than 1% higher into the open, reversing all of yesterday's losses, signalling a triple-digit gain in the Dow Industrials at the open.

In corporate news, shares of Radio Shack ( RSH ) were down 24% on disappointing earnings and store closings, Auto Zone ( AZO ) beat revenue and earnings estimates, Tesla ( TSLA ) was gaining on news that the electric-car maker will expand its presence in Europe with the addition of superchargers, stores and service centers, and JC Penney ( JCP ) was higher following an upgrade by S&:P.

European markets also responded favorably to the encouraging news from Ukraine, shrugging off bearish economic data on UK construction activity and deflationary risks in the EU-zone.

-Dow Jones Industrial up 1.00%

-S&P 500 futures up 0.98%

-Nasdaq 100 futures up 1.01%

SENTIMENT

Nikkei up 0.47%

Hang Seng up 0.70%

Shanghai Composite down 0.18%

FTSE-100 up 1.44%

DAX-30 up 2.02%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+) Drug stocks: higher

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos higher

UPSIDE MOVERS:

OXBT (+33.87) U.S. FDA lifted its clinical hold on Oxycyte

PLUG (+10.65%) Adding to prior gains tied to Wal-Mart order for hydrogen fuel cells

TSL (+2.85%) Q4 earnings topped analyst estimatesx

DOWNSIDE MOVERS:

SNTA (-8.13%) CEO Safi Bahcall announced resignation

MDR(-9.25%) Q4 results were well below analyst estimates

ARP (-3.12%) Commences 5.5 mln stock offering



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 , AZO , TSLA , JCP

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