Promise of Easing Geopolitical Tensions Sends Stocks Higher

Russia said it will "drastically" reduce military activity near Kyiv

Digital Content Manager
Mar 29, 2022 at 4:33 PM
facebook twitter linkedin

Stocks notched another day of solid wins as investors found a glimmer of hope that the conflict between Ukraine and Russia may start to ease, with a ceasefire looking a bit more likely. Though both sides have brushed off the suggestion that a deal is imminent, Russia did promise drastic reduction in its military force near Ukraine's capital. Investors also kept an eye on the 5-year Treasury note today, which remained above the 30-year and sparked some ongoing recession anxieties, while the 2-year and 10-year Treasury yields also neared an inversion. In response to today's news, the Dow gained 338 points. Strength in tech sent the Nasdaq to another triple-digit pop as well, while the S&P 500 added over 1% on Tuesday. 

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

The Dow Jones Average (DJI - 35,294.19) added 338.3 points, or 1% for the day. Visa (V) led the gainers with a 3.3% gain, while Travelers Companies (TRV) paced laggards with a 1.6% drop.

The S&P 500 Index (SPX - 4,631.60) added 56.1 points for the day, or 1.2%, while the Nasdaq Composite (IXIC - 14,619.6) rose 264.7 points, or 1.8% in today's session.

Lastly, the Cboe Market Volatility Index (VIX - 18.90) lost 0.7 point, or 3.7% for the day, logging its fourth-straight drop.

Closing Indexes Summary March 29

NYSE and Nasdaq Stats March 29

5 Things To Know Today

  1. A fourth Pfizer (PFE) and Moderna (MRNA) Covid-19 booster has been authorized for people 50 and older by the U.S. Food and Drug Administration (FDA) . (CNBC)
  2. Renaissance Capital said its outlook in the U.S. initial public offering (IPO) market is looking "foggy" as investors head into the second quarter, at least until risk appetite recovers and returns improve. (MarketWatch)
  3. Is Cisco Systems stock ready for a rebound?
  4. What to make of Microsoft stock's sky-high valuation
  5. The tech ETF flashing a rare buy signal, and what that might mean for bulls. 

Earnings March 29

Unusual Options Activity March 29

Gold Hits Lowest Level in Over a Month

Oil prices continued to fall today as investors hold out hope that peace talks between Ukraine and Russia may start to progress this week. The commodity dropped $1.72 or 1.6%, for the most active, front-month contract May delivery to settle at $1054.24.

Gold hit its lowest level since Feb. 25 earlier in the session before settling at a nearly two week low. April-dated gold sank $27.60 or 1.4%, to close at $1,912.20 per ounce as the promise of easing geopolitical tensions has investors cycling out of the "haven" commodity. Moving forward, the June-dated contract will be followed as most active.


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Best stocks for October and worst stocks for October


Special Offers from Schaeffer's Trading Partners