Breaking News
Investing Pro 0
⏰ React to the Market Faster with Custom, Real-Time News Get Started

Wall Street Opens Mostly Higher as U.S., EU Gas Deal Signed; Dow up 90 Pts

Stock Markets Mar 25, 2022 09:51AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
US500
+0.56%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
+0.41%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BBBY
+3.78%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AAPL
+0.83%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NG
+1.25%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
IXIC
+0.31%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Geoffrey Smith 

Investing.com -- U.S. stock markets opened mostly higher on Friday after the U.S. and European Union agreed on a deal that will markedly increase shipments of U.S. liquefied natural gas to Europe.

On the one hand, the deal will help Europe to reduce its purchases of Russian energy, increasing the economic pressure on Vladimir Putin's government. On the other, it appears to signal that both sides are now prepared for a long and attritional hybrid war against each other that threatens to act as a drag on global growth for the foreseeable future. Ukraine's government again repeated Friday that Russia's demands for it to recognize Russia's annexation of Crimea and the breakaway eastern Ukrainian statelets established in 2014 are unacceptable.

The deal appears to achieve a decisive breakthrough in the struggle for the European gas market that has been fought over by the U.S. and Russia ever since the shale revolution and the launch of the Nord Stream pipeline project. Cheniere Energy (NYSE:LNG), the U.S.'s biggest pure-play LNG stock, rose 2.9% to another new all-time high. It's now up 46% so far this year.

By 9:45 AM ET (1345 GMT), the Dow Jones Industrial Average was up 95 points, or 0.3%, at 34,803 points. The S&P 500 was also up 0.3% but the Nasdaq Composite lagged with a gain of less than 0.1%.

The three main indices are on course for a second straight week of gains, having more than erased all their losses since Russia invaded Ukraine a month ago. However, the mood was clouded by fresh signs that the housing market is cooling under the impact of higher prices and rising mortgage rates. Pending home sales fell 4.1% in February, their fourth straight drop, to leave the pending home sales index at its lowest since July 2020. New home sales had also come in below expectations earlier in the week with a second straight monthly fall.

The Michigan Consumer Sentiment index also fell by more than expected to an 11-year low, overshadowed by record gasoline prices and the fading of last year's stimulus effects.

Among early movers, cannabis stocks stood out with sharp gains amid reports that the House of Representatives will again vote on a bill legalizing pot at the federal level. A previous attempt to pass similar legislation had failed due to opposition in the Senate. Tilray (NASDAQ:TLRY) stock rose 14%, while Aurora Cannabis (NASDAQ:ACB) stock was up 5.2% and Canopy Growth (NASDAQ:CGC) stock was up 6.8%.

Elsewhere, Bed Bath & Beyond (NASDAQ:BBBY) stock rose 1.9% after Chewy (NYSE:CHWY) founder and activist investor Ryan Cohen said three new directors will join the retailer's board under a settlement hammered out between the two sides. The company will also look for alternatives for its buybuy Baby unit. Apple (NASDAQ:AAPL) stock was left unmoved by a Bloomberg report that it is looking at allowing people to buy iPhones and other hardware through subscription models.

Elsewhere, investors again used the bounce in Chinese ADRs to exit from positions that may soon be complicated by U.S. delisting requirements. Nio (NYSE:NIO) ADRs fell more than 10%, after the electric vehicle also reported deliveries below expectations in the latest quarter. Alibaba (NYSE:BABA) ADRs were down 3.6% while Pinduoduo (NASDAQ:PDD) ADRs fell 4.2%.

Wall Street Opens Mostly Higher as U.S., EU Gas Deal Signed; Dow up 90 Pts
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (13)
Chad Richer Than You
Chad Richer Than You Mar 25, 2022 11:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ukraine is Syria nr 2. So you're looking at 10+ years of conflict that ultimately don't matter for the market. Europe/USA need to accept this fact and move the fvk on. Retail investors need to cut politics cr. ap and focus on their investments.
Chad Richer Than You
Chad Richer Than You Mar 25, 2022 11:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stop stocking food cans and Pampers for you kids. Just buy SP500 large cap, crypto, and energy. No recession in sight. No end of days. The market has factored in the Russian-Ukrainian conflict and surge in energy cost.
Lau Poh Cheok
Lau Poh Cheok Mar 25, 2022 11:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Transporting gas through ship more efficient than pipeline? The American selling at super discounted price? EU buying more expensive gases which can help to reduce their inflation? Don't be distracted, the major problem whole world facing now is inflation, not Ukraine. American selling gases to EU indirectly pass the inflation to EU while they can curb their own inflation with more in flow of hot money. 1 stone kill 2 World, EU world and Russian world
First Last
First Last Mar 25, 2022 11:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
"the major problem whole world facing now is inflation, not Ukraine" -- Putin's Ukrainian invasion IS the cause of inflation.
Lau Poh Cheok
Lau Poh Cheok Mar 25, 2022 11:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Before the invasion, every country in the world already face inflation problem
Deval Sarode
Deval Sarode Mar 25, 2022 11:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
US want to extend this war as long as they can. But Europe should think that this war affecting them a lot and not to US. Nuclear bomb/ chemical attact/ stopage of gas pipeline all this possibilities will affect Europe directly than US. Europe should think about themself and not by USA.
First Last
First Last Mar 25, 2022 11:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Deval Sarode  "Europe should think about themself" --  Europe thinks, for good reasons, that another European country will be invaded by Russia.
Lau Poh Cheok
Lau Poh Cheok Mar 25, 2022 11:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Transporting gas through ship more efficient than pipeline? The American selling at super discounted price? EU buying more expensive gases which can help to reduce their inflation? Don't be distracted, the major problem whole world facing now is inflation, not Ukraine. American selling gases to EU indirectly pass the inflation to EU while they can curb their own inflation with more in flow of hot money. 1 stone kill 2 World, EU world and Russian world
Max Dividend
MaxDividend Mar 25, 2022 11:22AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The article talks a little about cannabis stock, that is the worst investment that you can make. Stay away from cannabis, literally.
Chad Richer Than You
Chad Richer Than You Mar 25, 2022 10:34AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Only Ukrainians understand Russians and vice versa. Mind your own business.
Stan Smith
Stan Smith Mar 25, 2022 10:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Food shortages are great for stocks! Is there anything that isn't?
Chad Richer Than You
Chad Richer Than You Mar 25, 2022 10:21AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ukraine is Syria nr 2. So you're looking at 10+ years of conflict that ultimately don't matter for the market. Europe/USA need to accept this fact and move the fvk on. Retail investors need to cut politics cr. ap and focus on their investments.
Naim Khan
Naim Khan Mar 25, 2022 10:21AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ukraine is not Syria,Ukraine is Russia 0.2They will the capacity to hit back
Chad Richer Than You
Chad Richer Than You Mar 25, 2022 10:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stop stocking food cans and Pampers for you kids. Just buy SP500 large cap, crypto, and energy. No recession in sight. No end of days. The market has factored in the Russian-Ukrainian conflict and surge in energy cost.
Tyrone Jackson
Tyrone Jackson Mar 25, 2022 10:16AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Just as I had said all long- Biden and his war monger administration pushing this war since day 1 - now you see why. To get the gas deals signed.
Debasish Saha
Debasish Saha Mar 25, 2022 10:16AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
exactly , It is only understood by a few people because the most of them have been brainwashed by the media.
Tyrone Jackson
Tyrone Jackson Mar 25, 2022 10:16AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Not only the gas deals. Also the arms deals to the Eastern Europe countries- The weapons of mass destruction are flowing. That is Biden and the liberals way. Millions of people displaced so he can get the gas and arms deals- sickening
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email