With few earnings and economic reports Friday, the stock market’s attention centered on Ukraine, where the threat of large-scale military action remained high and skirmishes were reported.
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The stock market indexes were quiet in the first half-hour of trading, following weeks of wide price swings.
The Nasdaq composite and Dow Jones Industrial Average rose 0.1%, while the S&P 500 climbed 0.2%. The small-cap Russell 2000 rose 0.6%. Volume rose on the Nasdaq and NYSE compared with the same time on Thursday.
Artillery, tank and mortar exchanges picked up Friday in the cease-fire area separating the Ukraine-controlled portion of Donetsk and Luhansk from Russian-held areas, the Wall Street Journal reported. U.S. Secretary of State Antony Blinken proposed a meeting with his Russian counterpart next week that he said could lead to a summit of leaders.
The price of U.S. crude oil fell 2.4% to $89.57 a barrel. It’s the first time oil trades below $90 since last Friday.
The energy sector was weakest, with Energy Select Sector SPDR (XLE) down 0.5%. Most other S&P sectors rose, however. Consumer Staples Select Sector SPDR (XLP) rose 0.5% and is the only S&P sector ETF above the 50-day moving average besides energy.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34354.16 | +42.13 | +0.12 |
| S&P 500 | (0S&P5) | 4390.08 | +9.82 | +0.22 |
| Nasdaq | (0NDQC ) | 13724.36 | +7.64 | +0.06 |
| Russell 2000 | (IWM) | 202.34 | +1.14 | +0.57 |
| IBD 50 | (FFTY) | 37.68 | +0.43 | +1.15 |
| Last Update: 10:04 AM ET 2/18/2022 | ||||
Chinese stocks, which have lagged most global indexes for months, fell Friday. KraneShares CSI China Internet ETF (KWEB) slid nearly 5%. The iShares China Large-Cap ETF (FXI) lost nearly 3%.
Stock Market Punishes Deere, Other Earnings
Deere & Co. (DE) reported better-than-expected January-quarter earnings and raised full-year guidance. Yet, the agricultural equipment maker reversed lower and was off 1.5% Friday morning. Shares are nearly 6% below the 388.20 buy point of last week’s breakout and seeking support at the 50-day moving average.
A labor strike in October and November added to company’s supply chain problems. Deere earnings came in at $2.92 a share with revenue of $9.57 billion. Revenue also was above expectations.
Roku (ROKU) shares plummeted 21% to the lowest since June 2020. Late Thursday, the video streaming platform company missed fourth-quarter estimates and guided lower for the current quarter and full year. Roku blamed hardware shortages.
Shake Shack (SHAK) plunged 8% after the hamburger chain posted a smaller-than-expected Q4 loss. But its sales forecast for the current quarter of $196 million-$201.4 million was below views. Same-store sales estimates also missed expectations.
Innovator IBD 50 ETF (FFTY) rose 1.5%, outperforming the stock market.
IBD 50 stock O’Reilly Automotive (ORLY) rose 1% and continues to form a cup base with a 710.96 buy point. The relative strength line is at new highs, a bullish sign for a potential breakout.
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