Stocks, oil and gold fall as Russia, Ukraine tangle
Deere boosted its full-year outlook
Prepare for more market volatility: Goldman Sachs personal finance head
Head of personal financial management at Goldman Sachs Joe Duran on what will happen to the stock market if Russia invades Ukraine.
U.S. stocks fell across the board as investors kept a close eye on escalating worries over the possibility of Russia invading Ukraine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43870.35 | +461.88 | +1.06% |
| SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
The Dow Jones Industrial Average fell 232 points or 0.7%, while the S&P 500 and Nasdaq Composite fell 0.7% and 1.2%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| QQQ | INVESCO QQQ TRUST - USD DIS | 504.98 | +1.81 | +0.36% |
| EXI | ISHARES TRUST GLOBAL INDUSTRIALS ETF | 148.06 | +1.32 | +0.90% |
Technology and industrials paced the drop in the broader market and pushed all three benchmarks to losses for the week.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - USD ACC | 246.63 | +2.02 | +0.83% |
GOLD SPIKES TO NINE-MONTH HIGH ON RUSSIA, UKRAINE
The price of gold, traditionally a safe haven during geopolitical uncertainty, was little changed after hitting a nine-month high.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 73.20 | +1.18 | +1.64% |
Oil fell over 2% for the week closing at $91.07 per barrel.
In earnings, Deere & Company shares fell even after it boosted its profit outlook, expecting to earn as much $7.1 billion net income 2022 above expectations.
"Looking ahead, we expect demand for farm and construction equipment to continue benefiting from strong fundamentals," said CEO John May.
WALMART STOCK JUMPS AS RETAILER BOOSTS FORECAST DESPITE INFLATION
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DE | DEERE & CO. | 437.54 | +32.58 | +8.05% |
| CAT | CATERPILLAR INC. | 389.57 | +8.13 | +2.13% |
Roku shares tanked over 22% after warning supply chain disruptions will likely impact profit and sales as television orders remained delayed. The stock is on pace for the biggest percentage drop ever.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ROKU | ROKU INC. | 68.68 | -0.03 | -0.04% |
DraftKings also slid after forecasting a loss of as much as $925 million in 2022, wider than expected.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS INC. | 43.55 | -0.25 | -0.57% |
Pfizer in focus after reports circulated that the drugmaker is delaying its expanded use of its COVID-19 vaccine for children under 5 years of age due to efficacy.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 25.14 | +0.19 | +0.76% |
| BNTX | BIONTECH SE | 108.23 | +6.09 | +5.96% |
On the economic agenda, existing home sales for the month of January rose 6.7%, as reported by the National Association of Realtors. This follows a steeper-than-expected decline of 4.6% in December due to high prices and low inventory. Home prices hit a record $362,800 on average.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TOL | TOLL BROTHERS INC. | 152.36 | +0.45 | +0.30% |
| LEN | LENNAR CORP. | 168.07 | -0.16 | -0.10% |
| DHI | D.R. HORTON INC. | 161.82 | -1.31 | -0.80% |
Also, the Conference Board’s Leading Economic index for January fell 0.3%.
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Bitcoin fell below the $40,000 level sinking in tandem with stocks.
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FOX Business' Ken Martin and The Associated Press contributed to this report.