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US market close: Dow adds 834 points, most in over a year

By Joseph Toppe

21:08, 25 February 2022

Kyiv
The Ukrainian city of Kyiv is surrounded by Russian troops - Photo: Shutterstock

Wall Street investors were busy on Friday, as the Dow added 834 points over the backdrop of the Russian army's continued assault on Kyiv and the rest of Ukraine. This was the largest single day gain since November 2020.

The Dow Jones Industrial Average (US30) went up 2.51%, the S&P 500 went up 2.24%, while the Nasdaq Composite (US100) went 1.64% higher.

Halfway through the session, the Dow was up approximately 617 points, or 1.86%, the S&P was up around 1.73%, and the Nasdaq was roughly 1.13% higher.

War clouds global economy

Clemson University economist Scott Baier told Capital.com, “We are seeing the impact of the Russian invasion on petroleum, and the higher energy prices will likely act as a drag on economic activity in the near future.”

“Current events have increased uncertainty and imposed more downside risks for economic growth around the world,” he said. “This cloud of uncertainty is showing up across most major markets.”

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Winners & losers: Tech takes off

In the technology sector, shares of Adobe are up 0.37%, Apple is up 1.30%,while Advanced Micro Devices (AMD) is 3.82% in the green, and Texas Instruments is 0.73% higher.

In other tech stocks, shares of Microsoft are up 0.92%, Nvidia is 1.72% higher, as Intel jumped 2.12% and Alphabet rose 1.33%.

DE40

18,731.50 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0221%
Short position overnight fee -0.0001%
Overnight fee time 21:00 (UTC)
Spread 8.0

HK50

19,724.90 Price
+0.810% 1D Chg, %
Long position overnight fee -0.0225%
Short position overnight fee 0.0005%
Overnight fee time 21:00 (UTC)
Spread 30.0

US500

5,305.70 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 1.7

US100

18,549.60 Price
+0.020% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 7.0

App shares are trading higher on Friday with Meta up 1.39%, Twitter up 0.89%, while Snap popped 0.82% and Pinterest skyrocketed 3.99%.

Oil: Falls back

Oil futures are down on Friday as West Texas Intermediate crude for April delivery lost $1.22, or 1.3%, to settle at $91.59 a barrel on the New York Mercantile Exchange, April Brent crude shed $1.15, or 1.2%, at $97.93 a barrel on ICE Futures Europe.

In energy stock, shares of Hess rose 2.37% and Exxon Mobil went up 2.69%.

Gold: Recedes

Gold futures are down to close the week as April gold slipped $38.70, or 2%, to settle at $1,887.60 an ounce.

Treasury: Yield goes up

The yield on the benchmark U 10-year Treasury note rose to 2.004% from 1.969% on Thursday.

Forex: US buck wobbles

The US dollar held its place on the euro and British pound sterling, sitting at $0.89 and $0.75 of the currencies respectively, but slipped again on the Canadian dollar to $1.27 from $1.28 on Thursday.

Markets in this article

ADBE
Adobe Systems Inc (Extended Hours)
483.55 USD
-0.6 -0.120%
AMD
Advanced Micro Devices Inc (Extended Hours)
164.60 USD
2.51 +1.550%
GOOGL
Alphabet Inc - A (Extended Hours)
176.57 USD
2.48 +1.430%
AAPL
Apple Inc (Extended Hours)
190.09 USD
0.24 +0.130%
EUR/USD
EUR/USD
1.08691 USD
0.00028 +0.030%

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Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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