November 29, 2022

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Stocks rebounded as investors monitor tensions between Russia and Ukraine

Stocks rebounded as investors monitor tensions between Russia and Ukraine

US stock futures It traded higher on Wednesday morning as investors watched the situation between Russia and Ukraine.

tape protection the last they change they change %
Me: DJI Dow Jones averages 33596.61 -482.57 -1.42%
SP500 Standard & Poor’s 500 4304.76 -44.11 -1.01%
I: COMP Nasdaq Composite Index 13381.516325 -166.55 -1.23%

Major futures indexes are pointing to a 0.7% gain after the S&P 500 entered correction territory on Tuesday, down more than 10% from its recent high. Inventories remained high even as Ukrainian citizens were ordered to leave Russia and after US sanctions were imposed on Russia late Tuesday.

Biden administration details more US sanctions against Russia

oil prices It stabilized, as well as natural gas, despite fears of a possible disruption to Russian supplies. The price of US crude rose around $91 a barrel, while Brent crude, the global benchmark, sat at $96.

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tape protection the last they change they change %
USO United States Petroleum Fund LP 65.54 +0.80 + 1.24%
UNG US LNG unit (post-split) 15.67 +0.26 + 1.69%

In earnings, shares of home improvement retailer Lowe’s surged after raising its 2022 financial forecast. Rival Home Depot may also be active after Tuesday’s drop, driven by a warning about supply chain issues on its quarterly earnings call.

tape protection the last they change they change %
a little LOWE’S COS. INC. 214.59 -8.10 -3.64%
HD HOME DEPOT INC. 316.17 -30.70 -8.85%

In other retail results, TJX, the parent company of Marshalls, Home Goods and TJMaxx, reported lower sales and earnings than Wall Street estimates.

tape protection the last they change they change %
TJX TJX COS Corporation. INC. 65.25 -0.90 -1.36%

Virgin Galactic shares rose after narrowing the quarterly loss to $81 million, compared to a loss of $104 million.

tape protection the last they change they change %
SPCE Virgin Galactic Holdings Inc. 7.82 -0.58 -6.90%

After the bell, watch for results from Hertz and eBay.

tape protection the last they change they change %
HTZ Hertz International 17.96 -0.35 -1.91%
ebay eBay Inc. 55.15 -0.31 -0.56%

In deal news, auto parts maker Tenneco was taken over by funds managed by private equity firm Apollo affiliates in an all-cash deal valued at nearly $7.1 billion. Stocks jumped.

tape protection the last they change they change %
ten TENNECO INC. 9.98 -0.53 -0.04%

The deal includes carrying Tenneco’s debts. Apollo will pay $20 per Tenneco Inc. share. , which is double Tenneco’s closing price on Tuesday of $9.98.

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in cryptocurrency, Bitcoin Traded around $38000.

Ken Martin and The Associated Press of FOX Business contributed to this report.

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