The Dow Jones Industrial Average moved higher in today’s market, while the Nasdaq also erased weekly losses and traded meaningfully higher. After being rocked by geopolitical tensions, the indexes soared to close out the week.
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Stock Market Today
Investors appear to favor the hands-off approach that President Joe Biden and other Western leaders are taking toward the Russia-Ukraine conflict. The indexes have since recovered from trading in correction territory earlier this week on the news. However, Russia’s attack on the capital of Ukraine still remains a major concern.
In today’s market, indexes followed the prior day’s bullish reversals with gains of over 1%.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 33897.47 | +673.64 | +2.03 |
| S&P 500 | (0S&P5) | 4360.43 | +71.73 | +1.67 |
| Nasdaq | (0NDQC ) | 13601.86 | +128.27 | +0.95 |
| Russell 2000 | (IWM) | 201.14 | +3.10 | +1.57 |
| IBD 50 | (FFTY) | 37.32 | +0.78 | +2.13 |
| Last Update: 3:06 PM ET 2/25/2022 | ||||
At around 3 p.m. ET, the Dow Jones industrials were up 2.1%. The index still remains well below resistance at the 200-day moving average. The Nasdaq composite was up 1% while the S&P 5oo rose 1.8%. The Russell 2000 traded up 1.6%. Data showed volume was running lower on the Nasdaq and on the NYSE vs. the same time on Thursday.
The yield on the 10-year Treasury note ticked up to 1.99%, after recently spiking above 2% on concerning inflation data. Meanwhile, the price of U.S. crude oil fell around 0.8% to under $93 a barrel, after reached its highest price since July 2014 earlier this week.
The Innovator IBD 50 ETF (FFTY) jumped more than 2.4%, boosted by a 5% gain in metals miner MP Materials (MP). The stock was up after strong earnings were released Thursday. Shares are building the right side of a cup with 53.13 entry.
Outside Dow Jones: Stocks Making Moves
Among notable movers Friday, Block (SQ), parent of Square, soared 24% after the payments processor company announced Q4 earnings and sales that beat estimates. Shares gapped up in heavy volume to reclaim their 21-day line for the first time in several months. Shares still remain below their 50-day line.
Etsy (ETSY) rallied 15% after its fourth-quarter report came in mixed. Results beat expectations, but the crafts marketplace forecast was below views for the first quarter. The marketplace’s active sellers rose 72% while active buyers jumped 17.6%.
However, most stock gains paled in comparison to CarGurus‘s (CARG) 44% spike to new highs. The car-buying website easily beat fourth-quarter profit expectations and gave bullish guidance. The stock surged back above a 35.99 buy point of a double-bottom base. Shares initially topped the entry last week but faded below it.
Follow Rachel Fox on Twitter at @IBD_RFox for more Dow Jones and stock market commentary.
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