Stock volatility welcomes March, Russia and Ukraine latest, oil prices climb: LIVE UPDATES
US oil tops $100 a barrel…
U.S. oil prices topped $100 a barrel on Tuesday morning…
Target stocks jumped more than 10% in premarket trading…
Same-store sales at Target jumped nearly 9%, with most of those sales taking place in stores.
“Our strong fourth quarter performance capped a record year of growth in 2021, reinforcing the sustainability of our business model and our confidence in long-term profitable growth,” said Brian Cornell, president and chief executive officer of Target.
Boosts outlook for 2022
low to mid single digit revenue growth
an operating margin rate greater than or equal to 8%
single-digit dollar operating margin growth
high single digit growth in adj. per share
Crypto Higher Earlier Tuesday
The cryptocurrency was rising early Tuesday morning with Bitcoin and Ethereum reporting double-digit percentage increases and Dogecoin up over 7.25%.
As of 4:30 a.m., Bitcoin was trading at around $43,390, up 13.23%, while Ethereum was trading slightly above $2,900 (up 10.53%) and Dogecoin at 13, 25 cents, respectively, according to Coindesk.
Stocks continue to oscillate between positive and negative territory
US equities were again on the upswing early Tuesday morning as markets spent most of the night in negative territory or near breakeven.
Tuesday will be a busy day for retail revenue with FAS reports from Target, Kohl’s, AutoZone and Chico ahead of the opening bell. After the close, Ross Stores, Nordstrom and Urban Outfitters are expected to announce their results.
Also, watch for results from Dow member Salesforce.com in the afternoon.
On Wall Street, the S&P 500 fell 1.6% on Monday, then recovered much of it to end down 0.2% at 4,373.94. The Dow Jones Industrial Average fell 0.5% to 33,892.60 and the Nasdaq composite rose 0.4% to 13,751.40, recovering from a 1.1% decline.
Oil futures rose Tuesday morning after a volatile start to the week as the market weighed a coordinated international release of crude inventories against Russian supply disruptions following the invasion of the Ukraine by Moscow.
May Brent futures, which began trading on Tuesday, gained around 1% at 0141 GMT at $98.90. The benchmark hit a seven-year high of $105.79 after Russia began its invasion of Ukraine last week.
U.S. West Texas Intermediate (WTI) crude futures for April rose about 0.8% to $96.53. This contract reached a high of $99.10 a barrel the day before and stabilized at more than 4%.
Willing hackers join Ukraine’s fight against Russia
The websites of Russia’s Foreign Ministry as well as the country’s largest stock exchange and a key state-owned bank were offline on Monday as volunteer hacker groups pledged to retaliate against the Kremlin for its invasion of Ukraine.
A “computer army” created by the Ukrainian government on Monday urged more than 200,000 subscribers on its Telegram channel to try to bring down the Moscow Stock Exchange’s website.
Thirty-one minutes later, channel admins shared a screenshot suggesting the exchange’s website had gone offline.
“Mission accomplished!” they wrote in English.