clear
Saturday May 23rd, 2015 4:51AM

Stocks surge as tensions ease in Ukraine; Dow up 197 in early trading

By The Associated Press
Relieved investors sent stocks sharply higher Tuesday after Russia pulled troops back from the border of Ukraine. The rally erased steep losses from Monday caused by fears an escalating conflict.

KEEPING SCORE: The S&P 500 index was up 23 points, or 1.3 percent, at 1,869 in the first hour of trading.

The Dow Jones industrial average rose 197 points, or 1.2 percent, to 16,365. The Nasdaq composite rose 67 points, or 1.6 percent, to 4,344. Almost 10 stocks rose for every one that fell on the New York Stock Exchange.

RELIEF RALLY: The volatility comes after the S&P 500 closed at a record high on Friday. That has left investors trying to figure out whether stocks are overvalued or whether they reflect an improving economy. Monday's "swift negative reaction" to the situation in Ukraine reinforces "our concerns that the U.S. stock market is vulnerable to increased volatility this year after the substantial stock advance over the past year and a half," Wells Fargo Advisors strategist Gary Thayer wrote after Monday's sell-off. The S&P 500 had its biggest decline in a month on Monday.

GOING FOR RISK: Bond and gold prices fell as traders moved money out of safe-play assets. Oil prices also fell as the immediate threat of economic sanctions on Russia, a major oil exporter, eased. The yield on the 10-year Treasury note rose to 2.66 percent from 2.60 percent late Monday.

WORLD MARKETS: Stock markets in Europe, including in Moscow and Asia, recouped much of Monday's losses. Indexes in France and Germany each rose more than 2.3 percent, and the FTSE 100 in Britain rose 1.6 percent.

THE SHACK PARES BACK: RadioShack Corp. plunged 51 cents, or 19 percent, to $2.21 after reporting a wider quarterly loss. The company also said it would close up to 1,100 stores.

BUYBACK BOUNCE: Chipmaker Qualcomm rose $2.51, or 3.4 percent, to $76.14 after announcing a 20 percent increase in its quarterly dividend and adding $5 billion to its stock buyback program. Buybacks generally benefit shareholders because they increase the value of remaining shares.
© Copyright 2015 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 4 months ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 4 months ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 4 months ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 4 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 4 months ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 4 months ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 4 months ago )
Local/State News
GOP leader regrets talk to white supremacists; party leaders rally around him
House Republican leaders rallied around one of their own, Whip Steve Scalise, on Tuesday after he said he regrets speaking 12 years ago to a white supremacist organization and condemns the views of such groups.
6:08PM ( 4 months ago )
Conviction of Putin foe sets off protest in Moscow
President Vladimir Putin's chief political foe was convicted along with his brother on Tuesday in a fraud case widely seen as a vendetta by the Kremlin, triggering one of Russia's boldest anti-government demonstrations in years.
6:03PM ( 4 months ago )
More Georgians signing up for health insurance
A federal report says more Georgians have selected health insurance plans through a federally facilitated marketplace.
4:16PM ( 4 months ago )
Politics
US rejects nuclear disarmament document over Israel concerns
UNITED NATIONS (AP) — The United States on Friday blocked a global document aimed at ridding the world of nuclear weapons, saying Egypt and other states tried to "cynically manipulate" the process by...
9:33PM ( 7 hours ago )
Obama again avoids calling 1915 Armenian killings 'genocide'
WASHINGTON (AP) — President Barack Obama will once again stop short of calling the 1915 massacre of Armenians a genocide, prompting anger and disappointment from those who have been pushing him to ful...
1:00PM ( 1 month ago )
Ex-NFL star Hernandez convicted of murder, sentenced to life
FALL RIVER, Mass. (AP) — Former New England Patriots star Aaron Hernandez was convicted of first-degree murder and sentenced to life in prison Wednesday for a deadly late-night shooting, sealing the d...
8:54PM ( 1 month ago )
Clinton kicks off 2016 campaign online, heads next to Iowa
WASHINGTON (AP) — Hillary Rodham Clinton jumped back into presidential politics on Sunday, making a much-awaited announcement she will again seek the White House with a promise to serve as the "champi...
7:56PM ( 1 month ago )
Hall, White, Jefferson schools recognized nationally for use of technology
Three school districts in northeast Georgia - Hall, White, and Jefferson - have received national recognition for their use use of innovative technologies. They earned top spots in the Center for Digital Education's and the National School Boards Association's 10th annual Digital School Districts Survey.
By Staff
1:00PM ( 1 month ago )