Stock Market News Today
The Dow Jones Industrial Average gained ground after Russia’s invasion of Ukraine. Nvidia and AMD are among best-of-breed growth stocks. Occidental delivered solid quarterly earnings and is looking to improve operational efficiencies. Powell’s testimony is expected to be closely watched on Wall Street. A broader perspective on today’s market is available in this piece. Read on to learn more about some of the biggest stories on Wall Street.
Dow Jones Industrial Average surged after Russia’s invasion of Ukraine
The Russian invasion of Ukraine has sent global markets into a tailspin, as investors are trying to gauge the impact of the conflict on commodity prices. The Russian invasion is likely to further raise concerns about the long-term prospects of inflation and stagnant growth. Moreover, investors are keeping a close eye on Fed Chairman Jerome Powell’s testimony this week. If he is correct, investors will be able to judge the impact of the conflict on domestic monetary policy.
Nvidia and AMD are best-of-breed growth stocks
Both AMD and NVIDIA are well diversified and have partnerships with market leaders in several high-growth markets, such as the connected car and AI applications. AMD, meanwhile, is chasing NVIDIA into many of these same growth markets, including partnerships with Baidu and Microsoft in data centers. While both companies have a lot of buzz around automotive partnerships, they still rely heavily on PCs and gaming consoles for much of their revenue.
Occidental posted solid quarterly earnings
Occidental Petroleum Corp., known as Oxy, has posted strong quarterly earnings. The company saw improved efficiencies and higher profits across its holdings. The stock has added to its recent gains and now stands at an all-time high. However, the company’s prospects are not perfect. As such, investors should be cautious when buying Occidental stock. Here are a few things to keep …
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