Dow Logs 2022 Lows as Russia Sanctions Weigh

The European Union (EU) will hold an emergency meeting tomorrow

Digital Content Manager
Feb 23, 2022 at 4:28 PM
facebook twitter linkedin

The Dow and Nasdaq logged their fifth-straight daily loss on Wednesday, with the former shedding 464 points to settle at its lowest level this year. Meanwhile, the S&P 500 sank deeper into correction territory to extend its losing streak for a fourth consecutive session.

The ongoing tensions between Russia and Ukraine weighed, with U.S. President Joe Biden announcing sanctions on the company behind the Nord Stream 2 pipeline, while Ukraine urged its citizens to avoid travel to Russia or leave the country immediately. Elsewhere, the European Union (EU) will hold an emergency meeting tomorrow to narrow down its response to the aggravating threat of Russian invasion. 

Continue reading for more on today's market, including:

  • Now is the time to buy Hilton Hotels stock.
  • Options bears circled Moderna stock ahead of earnings.
  • Plus, analyst praises oil stock; unpacking LOW's beat-and-raise; and pops on quarterly win.

The Dow Jones Average (DJI - 33,131.76) fell 464.9 points, or 1.4% for the day. Chevron (CVX) led the two gainers with a 2.4% pop, while Cisco Systems (CSCO) paced the laggards with a 3.3% drop.

The S&P 500 Index (SPX - 4,225.50) shed 79.3 points, or 1.8% for the day. Meanwhile, the Nasdaq Composite (IXIC - 13,037.49) dropped 344 points, or 2.6% for today's session.

Lastly, the Cboe Market Volatility Index (VIX - 31.02) added 2.2 points, or 7.7% for the day.

closing summary feb23

nyse nasdaq Feb23

5 Things To Know Today

  1. The U.S. Postal Service (USPS) is moving forward with plans to replace its delivery fleet with thousands of gas-powered vehicles, despite strong opposition. (CNBC)
  2. The World Health Organization (WHO) said Covid-19 cases are still falling despite the emergence of a new, more transmissible omicron subvariant. (MarketWatch)
  3. Why Piper Sandler gushed over this outperforming oil stock.
  4. Beat-and-raise helped Lowe's stock overcome this key trendline.
  5. stock skyrocketed today after blowout earnings.

Earnings Feb23

UVOL Feb23

Gold Closes at Highest Level Since January 2021

Oil prices edged higher on Wednesday, with Russia-Ukraine headlines dominating the news cycle. Investors are also monitoring a potential nuclear deal with Iran, which could happen within the next few days. In response, April-dated crude rose 19 cents, or 0.2%, to settle at $92.10 per barrel.

Gold prices moved higher as well to settle at their highest level since January 2021. The potential Russia-Ukraine conflict and rising inflation continue to push investors toward the safe-haven yellow metal. April-dated gold added $3, or 0.2%, to finish at $1,910.40 per ounce.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners