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US stock market musters rebound

US stock indices traded sharply higher on Wednesday, snapping a four-day rout.

The situation in Ukraine remains in the spotlight. Investors are pinning their hopes on a meeting between the foreign ministers of Russia and Ukraine Sergey Lavrov and Dmitry Kuleba, scheduled for March 10, following statements by Ukrainian President Volodymyr Zelensky.


NASDAQ Composite: 13,255 (+3.59%)

S&P 500: 4,277 (+2.57%)

DJIA: 33,282 (+2.00%)

SPX 500 CFDs continue to consolidate.  Investors are in wait-and-see mode, accumulating trading positions as the index hovers in the range of 4,200-4,300 (see below the CFD chart on the SPX 500 from MT4).

Market news

May Brent futures closed 13.2% lower on Wednesday, while April WTI futures slid 12.1%. In the previous session, these and other contracts soared to 14-year highs after US President Joe Biden signed an executive order banning the import of energy resources from Russia.

Corporate news

Dating app developer Bumble Inc. skyrocketed 41.9% after releasing strong Q1 2022 revenue guidance. Bumble also announced that it will cease operations in Russia and remove its apps from Apple and Google app stores in Russia and Belarus.

Oil companies pulled back sharply after crude prices retreated sharply. Chevron Corp and Exxon Mobil Corp sank 2.5% and 7.1%, respectively, on the day.


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