A FOX Business panel with RegentAtlantic Co-Chief Investment Officer Andy Kapyrin discusses inflation sticking around ‘for a couple more years.’
U.S. stocks were mixed mid-Monday afternoon as commodity prices eased off recent highs and investors look ahead to the Federal Reserve’s likely rate hike on Wednesday. The Russia, Ukraine conflict also remains a driver of volatility.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 32886.67 | -57.52 | -0.17% |
| AXP | AMERICAN EXPRESS CO. | 167.90 | -1.70 | -1.00% |
| V | VISA INC. | 196.71 | -1.26 | -0.64% |
| JPM | JPMORGAN CHASE & CO. | 128.89 | -2.97 | -2.25% |
The Dow Jones Industrial Average trimmed gains but remained higher by over 60 points as financial stocks boosted the benchmark.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | S&P 500 | 4175.45 | -28.86 | -0.69% |
| I:COMP | NASDAQ COMPOSITE INDEX | 12628.156815 | -215.65 | -1.68% |
While the S&P 500 and Nasdaq Composite were lower by 0.5% and 1.8%. Trading remained volatile.
RUSSIA INVADES UKRAINE: LIVE UPDATES
Ukrainian President Volodymyr Zelensky vowed to keep negotiating with Russia as Russian forces bombarded a military training base near the Polish border, killing nine and wounding dozens of people. Talks aimed at reaching a cease-fire failed again over the weekend. Zelensky is set to address U.S. lawmakers Wednesday.
OIL PRICES FALL IN EARLY ASIAN TRADING MONDAY
U.S. crude prices retreated to $100 per barrel, while Brent, the global benchmark, traded around $106. Gold also slipped below the $2,000 level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 76.40 | +2.34 | +3.16% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 29.33 | -1.79 | -5.75% |
| GLD | SPDR GOLD SHARES TRUST – EUR ACC | 185.09 | -1.31 | -0.70% |
GOLD APPEAL LESSENED AS WAR IN UKRAINE DRAGS ON
In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. (AP Photo/Jacquelyn Martin / AP Newsroom)
In the U.S., the Federal Reserve is holding its policy meeting this week. “Markets are bracing for two diametrically opposed forces, which will obfuscate the picture,” Mizuho Bank said in a commentary. “One is geo-political uncertainty that may leash fresh convulsions of ‘risk off’ and the other, a hawkish Fed that is poised to hike” interest rates by at least 0.25 percentage points.
In stocks, Lockheed Martin shares moved higher after Reuters reported Germany will buy its F-35 fighter jets.
U.S. stocks were trending higher early Monday morning as oil took a downward turn. (Allie Joseph/New York Stock Exchange via AP)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LMT | LOCKHEED MARTIN CORP. | 439.04 | -5.32 | -1.20% |
Shares of Ford and General Motors slipped after Jeffries lowered price targets, citing headwinds including supply chain issues, inflation and European exposure as the Russia-Ukraine conflict continues.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 16.04 | -0.29 | -1.78% |
| GM | GENERAL MOTORS CO. | 41.51 | -0.34 | -0.81% |
Chinese shares have also come under selling pressure due to the threat of de-listings of major Chinese companies on U.S. stock exchanges. A report in the state-run newspaper Economic Daily said Monday that regulators are negotiating to resolve a dispute over auditing rules.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD. | 78.46 | -8.24 | -9.51% |
| DIDI | DIDI GLOBAL INC | 1.83 | -0.06 | -3.17% |
| NIO | NIO INC. (CHINA) | 14.46 | -1.62 | -10.05% |
| JD | JD.COM INC. | 43.26 | -4.73 | -9.86% |
TEXAS DRILLER PRODUCES US OIL INDUSTRY ‘MIRACLE’
In cryptocurrencies, Bitcoin hovered around the $38,000 level.
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The Associated Press contributed to this report.