The three major U.S. equities indexes closed lower on Friday. Russian President Vladimir Putin’s order for Russian troops to cross the border into two Ukrainian provinces has chilled markets, except for energy. The Dow Jones industrial average closed down 0.68% on Friday, the S&P 500 down 0.72% and the Nasdaq down 1.23%. Among S&P 500 stocks, losers outnumbered winners by about two to one in Friday trading. Ten of 11 sectors closed lower, with the biggest declines coming in technology (1.0%) and industrials and communications services (both 0.8%). Consumer staples (up 0.2%) was the day’s only winner.
At around 7:00 a.m. ET Tuesday morning, S&P 500 futures traded down by about 0.16%, the Nasdaq was down about 0.55%, and the Dow traded 0.25% lower.
Crude oil settled at $91.07 a barrel on Friday and traded up by about 3.8% in early trading Tuesday at $94.50. The 10-year Treasury note settled at 1.93% and the two-year at 1.47% on Friday. The yield curve narrowed to 0.45 by the end of the day, down by about three basis points. The spread had narrowed further to around 9.40 in early trading Tuesday.
Here are the five S&P 500 stocks that closed with the largest gains on Friday: Dollar Tree (up 5.22%), Consolidated Edison (3.88%), LKQ (3.21%), Clorox (3.11%) and Sealed Air (2.91%).
Friday’s biggest losers among S&P 500 stocks were PPL (down 7.25%), GE (5.86%), Enphase Energy (5.41%), Intel (5.32%) and Celanese (5.25%).
Here are Tuesday’s premarket leaders and laggards. Not all are S&P 500 stocks, but all the day’s winners were energy stocks.
Cheniere Energy Inc. (NYSEAMERICAN: LNG) traded up about 7.3% to $124.50, above its 52-week range of $65.23 to $121.31. If Russia cuts off natural gas supplies to Europe, the continent will need to increase its imports from other sources and Cheniere’s LNG is front and center for that.
Marathon Oil Corp. (NYSE: MRO) traded up by about 4.6% to $22.88, also above its 52-week range of $9.65 to$22.56. Other oil producers trading higher Tuesday morning include Devon (up about 4.0%), Pioneer (4.0%) and Diamondback Energy (4.2%). All were trading above the top of their 52-week range.
APA Corp. (NYSE: APA) traded up about 2.6%, at $33.00 in a 52-week range of $15.55 to $36.46. The independent oil and gas producer reported results Monday morning that missed estimates, but investors were more interested in the company’s plans for returning capital. APA doubled its dividend to $0.125 per quarter and committed to a 60% capital return plan for investors.
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