March 8, 2022

March 8, 2022

Stocks whipsawed today following the S&P 500′s worst day since October 2020, as investors continue to assess geopolitical tensions between Russia and Ukraine and high commodity prices.

 

Dow Jones finished -185 at 32,632

S&P 500 finished -30 at 4,170

NASDAQ finished -35 at 12,795

 

The 10 Year Treasury closed up 10 basis points yielding 1.85%

Oil prices closed up $4.75 ending at $124.15 a barrel.

Gold prices closed up $62.00 ending at $2,058 an ounce.

 

In the days’ stock news:

 

  • Dick’s Sporting Goods closed up 2.2% after the company reported profits and sales growth in its holiday quarter that topped analysts’ estimates. Dick’s also offered a better-than-expected forecast for 2022 earnings and same-store sales, which it says sets a baseline for future growth coming out of Covid-19.
  • Caterpillar closed up more than 6% after Jefferies upgraded the stock to a buy rating from a hold rating. The firm said the surge in commodities prices sparked by Russia’s invasion of Ukraine could boost Caterpillar’s performance.

 

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