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The Dow has climbed about 800 points on its best day since late 2020.

Shares rose on Friday to close a volatile trading week as investors continued to assess the financial risks associated with Russia’s invasion of Ukraine.

The Dow Jones Industrial Average added about 830 points, or 2.5%. The blue chip average is on its way to its best day since November 2020. The S&P 500 increased 2.2%. The Nasdaq Composite grew 1.6%.

Shares come off a whipsaw trading session thursday in which the major indexes organized a massive return after a sharp decline earlier in the day. On Thursday, the Dow reversed the decline by more than 800 points to close higher.

“Investors who expected increased volatility in 2022 have quickly entered the market, and today you see that happening,” said Jeff Kilburg, Sanctuary Wealth’s chief investment officer. “We were in a state of oversold. The stock markets overreacted to the crisis in Ukraine. “

The Dow was down 0.3% over the past five days, on track for the third consecutive week of losses. The S&P 500 and Nasdaq Composite index are positive for the week.

Shares of Johnson & Johnson and 3M were the most significant on the Dow’s growth on Friday, adding more than 4% each. Shares of Etsy topped the S&P 500 on Friday, rising about 16% after quarterly online market results exceeded analysts’ estimates.

Shares of Beyond Meat fell more than 10% after a disappointing earnings report. Shares of Foot Locker fell about 30% after that the retailer said sales in 2022 would decline since it expects to sell less Nike products.

Market sentiment intensified on Friday after the Kremlin said so Russian President Vladimir Putin is ready to send a delegation to Minsk for talks with Ukraine.

Russia is approaching to the capital Kiev, according to Ukrainian officials. Ukrainian Foreign Minister Dmitry Kuleba said the capital had been hit by “terrible Russian missile strikes.”

The United States will impose sanctions on Putin and Foreign Minister Sergei Lavrov The White House said this on Friday. The move follows similar sanctions announced by the UK and the European Union.

This week, President Joe Biden imposed new sanctions against Russia’s largest banks and its sovereign debt to isolate Moscow from the global economy.

“There is chaos on the ground, but there is clarity in the sanctions, and I think that’s where the market feels some consolation,” said Jeff Kleintop, chief global investment strategist Charles Schwab.

As for the data, then price index for basic personal consumption expenditures, the Federal Reserve’s primary inflation rate, rose 5.2% year-on-year, the Commerce Department said Friday. Economists polled by Dow Jones expected 5.1% of the press.

Stock Picks and Investment Trends from CNBC Pro:

The Nasdaq Composite is still in correction, or down more than 10% from its record high. The Dow and S&P 500 are outside the correction area.

“This is a headline-oriented market, and if we get some decision and see what happens to Russia and Ukraine, the Fed will be in the spotlight again,” Paul Hickey of CNBC’s Bespoke Investment TechCheck said on Friday.

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The Dow has climbed about 800 points on its best day since late 2020.

Shares rose on Friday to close a volatile trading week as investors continued to assess the financial risks associated with Russia’s invasion of Ukraine.

The Dow Jones Industrial Average added about 830 points, or 2.5%. The blue chip average is on its way to its best day since November 2020. The S&P 500 increased 2.2%. The Nasdaq Composite grew 1.6%.

Shares come off a whipsaw trading session thursday in which the major indexes organized a massive return after a sharp decline earlier in the day. On Thursday, the Dow reversed the decline by more than 800 points to close higher.

“Investors who expected increased volatility in 2022 have quickly entered the market, and today you see that happening,” said Jeff Kilburg, Sanctuary Wealth’s chief investment officer. “We were in a state of oversold. The stock markets overreacted to the crisis in Ukraine. “

The Dow was down 0.3% over the past five days, on track for the third consecutive week of losses. The S&P 500 and Nasdaq Composite index are positive for the week.

Shares of Johnson & Johnson and 3M were the most significant on the Dow’s growth on Friday, adding more than 4% each. Shares of Etsy topped the S&P 500 on Friday, rising about 16% after quarterly online market results exceeded analysts’ estimates.

Shares of Beyond Meat fell more than 10% after a disappointing earnings report. Shares of Foot Locker fell about 30% after that the retailer said sales in 2022 would decline since it expects to sell less Nike products.

Market sentiment intensified on Friday after the Kremlin said so Russian President Vladimir Putin is ready to send a delegation to Minsk for talks with Ukraine.

Russia is approaching to the capital Kiev, according to Ukrainian officials. Ukrainian Foreign Minister Dmitry Kuleba said the capital had been hit by “terrible Russian missile strikes.”

The United States will impose sanctions on Putin and Foreign Minister Sergei Lavrov The White House said this on Friday. The move follows similar sanctions announced by the UK and the European Union.

This week, President Joe Biden imposed new sanctions against Russia’s largest banks and its sovereign debt to isolate Moscow from the global economy.

“There is chaos on the ground, but there is clarity in the sanctions, and I think that’s where the market feels some consolation,” said Jeff Kleintop, chief global investment strategist Charles Schwab.

As for the data, then price index for basic personal consumption expenditures, the Federal Reserve’s primary inflation rate, rose 5.2% year-on-year, the Commerce Department said Friday. Economists polled by Dow Jones expected 5.1% of the press.

Stock Picks and Investment Trends from CNBC Pro:

The Nasdaq Composite is still in correction, or down more than 10% from its record high. The Dow and S&P 500 are outside the correction area.

“This is a headline-oriented market, and if we get some decision and see what happens to Russia and Ukraine, the Fed will be in the spotlight again,” Paul Hickey of CNBC’s Bespoke Investment TechCheck said on Friday.

Reported by Source link

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