The stock market is on the move today and the Dow Jones Industrial Average is performing well today as it recovers from a recent downward trend.
The Dow is currently up 2.1% as of Wednesday afternoon, which is a positive change compared to the 1.9% decline the stock has suffered over the last five days. But what exactly is behind that increase?
The Dow rising higher today comes as markets see positive movement with many stocks heading higher. For example, the only company on the Dow Jones that isn’t heading higher today is Chevron (NYSE:CVX).
It makes sense that CVX stock wouldn’t be doing so hot today with the recent rally around oil stocks starting to subside. That comes as the price of oil drops to about $116.59 per barrel, which is a 5.6% decline.
If we look at the wider trends across the stock market, today’s rise appears to be connected to the war between Russia and Ukraine. Investors are moving funds around trying to find how best to make a profit during an unstable economy. This has many turning to financial institutions, which often perform well during times of war.
It’s also worth noting that the Nasdaq Composite is also doing well today as it climbs 3.2% higher. Just like with the Dow, this follows a period of decline and appears to show that markets are starting to recover from the shock of the war in Ukraine.
Investors searching for more stock market news on Wednesday are in the right place!
InvestorPlace has all of the latest stock market news that traders need to know about for today! A few examples include a deal sending AST SpaceMobile (NASDAQ:ASTS) stock higher, a new rating boosting shares of Palantir (NYSE:PLTR) stock, as well as what has Coinbase (NASDAQ:COIN) stock jumping today. You can get up to speed on all of this news by checking out the links below!
More Wednesday Stock Market News
- Why Is AST SpaceMobile (ASTS) Stock Up Today?
- PLTR Stock: The New Analyst Coverage and Price Target Giving Palantir Shares a Push Today
- Why Is Coinbase (COIN) Stock Up Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
