Stocks and oil slide, gold above $2,000
Amazon announced a 20-for-1 stock split
Americans are feeling serious pain over inflation: Frances Donald
Frances Donald and Phil Blancato react to the upcoming CPI inflation report on 'Making Money.'
U.S. stocks fell after the Consumer Price Index jumped 7.9%, cementing inflation concerns as the Russia-Ukraine conflict raged on.
The Dow Jones Industrial Average fell over 112 points or 0.3%, while the S&P 500 and Nasdaq Composite dipped by 0.4% and 0.9%, respectively. All three major averages closed above the worst levels of the day.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
RUSSIA INVADES UKRAINE: LIVE UPDATES
Soaring U.S. inflation remains an overhang for Americans. February's CPI hit 7.9% year-over-year, amid strong consumer demand and lingering pandemic-related supply chain woes. Energy prices drove a bulk of the increases.
Gold moved back above the $2,000 level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - USD ACC | 245.59 | +2.10 | +0.86% |
The Labor Department reported new weekly claims for unemployment benefits were 227,000, slightly higher than estimates. Continuing claims, which track the total number of unemployed workers collecting benefits, rose to 1.490 million.
The price of oil closed down 2.5% to $106.02 per barrel, while Brent settled marginally lower at $109.33 per barrel.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 71.04 | -0.57 | -0.80% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 28.77 | -0.23 | -0.79% |
| UGA | UNITED STATES GASOLINE FUND - USD ACC | 60.18 | -0.11 | -0.18% |
Gas prices climbed to a fresh record $4.31 per gallon.
In stocks, Amazon in focus after announcing a 20-for-1 stock split, becoming the second large tech company after Google to split their stock.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 210.71 | +2.82 | +1.36% |
| GOOGL | ALPHABET INC. | 171.49 | +2.54 | +1.50% |
Goldman Sachs confirmed to FOX Business it will exit operations in Russia. In addition, financial service companies including Visa, Mastercard, American Express, PayPal have also suspended operations in Russia.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GS | THE GOLDMAN SACHS GROUP INC. | 605.42 | +0.20 | +0.03% |
| V | VISA INC. | 314.64 | +2.83 | +0.91% |
| MA | MASTERCARD INC. | 532.17 | +3.74 | +0.71% |
| PYPL | PAYPAL HOLDINGS INC. | 86.57 | -0.37 | -0.43% |
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Bitcoin traded around $39,000.
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FOX Business' Ken Martin and The Associated Press contributed to this report.