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Stocks moved downwards then significantly rebounded by the end of the day. The Nasdaq and the S&P 500 rose although the narrower Dow went downwards. While the Dow fell 120.66 points(0.3%) to 43,268.94, the S&P 500 rose 23.36 points (0.4%) to 5,916.98 and the Nasdaq jumped 195.66 points (1%) to 18,987.47. After President Biden approved Ukraine's use of U.S.-made long-range missiles to strike Russian territory, Putin updated Russia's nuclear doctrine, stating that nuclear weapons could be used in response to conventional aggression threatening sovereignty. The doctrine also considers attacks by non-nuclear states supported by nuclear powers as joint aggression. This change follows Ukraine's reported missile strike on a Russian facility in Bryansk. Nvidia surged by 4.9% ahead of the release of its fiscal third quarter results. Walmart (WMT) moved upside after reporting better than expected third quarter results and raising its full-year guidance. Lowe's (LOW) slumped after it reported third quarter results. Computer hardware stocks drove NYSE Arca Computer Hardware Index up by 3.3%. Super Micro Computer (SMCI) led the sector higher once again after announcing BDO as its independent auditor and submitting a compliance plan to the Nasdaq. Gold stocks also saw significant strength with the NYSE Arca Gold Bugs Index jumping by 2.3%. airline stocks moved sharply lower, resulting in a 4.6% nosedive by the NYSE Arca Airline Index. Asia-Pacific stocks moved higher. Japan's Nikkei 225 Index rose by 0.5% while China's Shanghai Composite Index advanced by 0.8%. The major European markets moved downwards. While the U.K.'s FTSE 100 Index edged down by 0.1%, the French CAC 40 Index and the German DAX Index both slide by 0.7%. In the bond market, treasuries gave back ground after an early advance but remained firmly positive. As a result, the yield on the benchmark ten-year note which moves opposite of its price fell by 3.5 bps to 4.37%. Powered by Capital Market - Live News |