Stock Market Today, Bitcoin Prices Rebound, Russian-Ukrainian Tensions: LIVE UPDATES
Lowe’s raises full-year forecast as demand for home improvements holds steady
U.S. home improvement chain Lowe’s Cos Inc raised its full-year sales and profit forecast on Wednesday, as home improvement retailers benefited from resilient demand for building tools and materials.
Shares of Lowe’s, which fell nearly 4% on Tuesday following the profit margin warning from biggest rival Home Depot, rose 2.6% in premarket trading.
The spike in spending on home DIY projects seen at the start of the pandemic has so far held up better than expected, even as restrictions ease, while builders and DIYers upgrade their toolboxes to complete a backlog of delayed projects.
Stock futures try to rebound as traders weigh Russia sanctions
U.S. stock futures tried to rebound Wednesday morning from the previous session’s plunge on concern over Russian President Vladimir Putin’s authorization to send troops to eastern Ukraine. continue reading
Bitcoin price remains volatile above $38,000
Investors continued to monitor escalating tensions on the Russian-Ukrainian border.
In a rare move on Tuesday, as stocks fell drastically, bitcoin and other cryptos bucked the trend and actually gained, though trades bounced between gains and losses overnight. continue reading
S&P 500 correction could deepen if Ukraine-Russia crisis escalates
An armed clash between Ukraine and Russia, coupled with punitive sanctions for Moscow, could push US stocks toward another major loss, according to economists at Goldman Sachs.
The S&P 500 entered correction territory on Tuesday, down 10% from its last high, as investors weighed the dispute and new US and UK sanctions on Russia. For the year, it’s down more than 9%. continue reading