Wall Street Today | Biden vows wider sanctions on Russia in effort to cut Moscow off from the global economy
Stocks rise as oil pares gain after Biden address
U.S. stocks erased losses to trade higher Thursday, with investors finding refuge in large-cap American technology shares, as a decline in oil prices eased concern Russia’s invasion of Ukraine would result in an immediate worsening of the inflation picture.
The S&P 500 added 1.5%, the Nasdaq 100 gained 3.4% and the Dow Jones Industrial Average was 0.3% higher after teetering on the edge of a correction as the conflict with Russia cast a pall over global markets. The Stoxx Europe 600 fell 3.3% and Russian shares slumped the most on record.
Biden vows wider sanctions on Russia in effort to cut Moscow off from the global economy
Biden said Thursday that the U.S. will introduce a new wave of sanctions against Russia in a broad effort to isolate Moscow from the global economy. The president said that the totality of the penalties will target trillions in assets and include restrictions against Russian banks including VTB Bank and Sberbank.
The White House has also authorized additional troops to be stationed in Germany as NATO allies look to bolster defenses in Europe, Biden said.
Wall Street flees Russian assets ahead of sanctions risk
Stocks and bonds from Russia descended into freefall and activity was all but frozen in some corners of the market, traders said. The MOEX stock index wiped out more a third of its value on Thursday and the cost of insuring Russian debt against default soared to the highest since 2009.
Even Russian oil was offered at a record discount. Litasco SA, a Geneva-based trader, offered to sell 100,000 tons of Urals crude at a discount of $11.20 a barrel to Dated Brent, a benchmark for physical oil transactions all over the world.
Bitcoin donations to the Ukrainian military are soaring as Russia invades
Bitcoin donations to the Ukrainian army are soaring after Moscow launched a large-scale offensive against Ukraine early Thursday.
New data from blockchain analytics firm Elliptic shows that over a 12-hour window, nearly $400,000 in bitcoin was donated to Come Back Alive, a Ukrainian NGO providing support to Ukraine's armed forces.
Coinbase posts big revenue beat but expects trading volume to fall in Q1
$Coinbase(COIN.US$ reported fourth-quarter earnings after the bell on Thursday. The earnings come after major cryptocurrencies saw a weak month in December despite an overall explosion in value in 2021.
Coinbase warned shareholders in the previous quarter that its stock should be considered a long-term investment since its business is "volatile."
SEC reportedly probes Tesla CEO Elon Musk and brother over recent stock sales
The SEC is investigating whether recent stock sales by $Tesla(TSLA.US$ CEO Elon Musk and his brother Kimbal Musk violated insider trading rules, the Wall Street Journal reported Thursday.
The probe reportedly focuses on stock sales by Kimbal Musk that occurred one day before Elon Musk asked his tens of millions of followers on Twitter to vote in an informal poll, asking whether he should unload some of his Tesla shares.
Twitter admits it mistakenly removed Ukraine open-source intelligence accounts
$Twitter (Delisted)(TWTR.US$ said it had mistakenly suspended the accounts of open-source intelligence reporters posting about Russia's military build-up around Ukraine, leading to many of them accusing the Russian state of launching a "bot" campaign against them.
"Twitter has . . . a responsibility to ensure its own reporting systems aren't being misused by individuals or nations."Kyle Glen, co-founder of @Conflicts, which has 337,000 followers, said.
Beyond Meat shares tumble after reporting wider-than-expected loss, shrinking revenue
CEO Ethan Brown said in a statement that the company expects to "substantially moderate" the growth of its operating expenses in 2022. $Beyond Meat(BYND.US$'s revenue outlook for 2022 also fell short of Wall Street's expectations. The company's stock fell 11% in extended trading.
Source: Bloomberg, CNBC, Financial Times
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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litim : He is concerned about the relations between China and Russia.
KEVIN BEAUCHAMP : I'm sure putin will apologize and pull out of Ukraine
green x win : bidet fud spreading finally got what he wanted, sanctions for russia and cheap stocks everywhere for him to buy
举头三尺有镰刀 KEVIN BEAUCHAMP: Russia's economy cannot support a long war. Now Russia is tinkingly poor, the stock market has plummeted, foreign capital has run away, and Russia's assets in Europe, the United States, Canada, Australia, Japan and so on have all been frozen.
Russia has been getting poorer and poorer these years, and then it will be even poorer, and the common people will suffer.
plucky Kangaroo1 : I hope it all works out God bless everybody
Hani Ayyash KEVIN BEAUCHAMP:
Giovanni Ayala : GoodMorning
schekitoff : this is Phelham123 IRL
Donna Banks : Awesome thanks
Giovanni Ayala schekitoff: Hi
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