Ukraine Rattles Stocks but Dow Ends Week in Positive Territory for the Year

Stocks end the week mixed, but all indexes gained for the week and the dow moved into positive territory for the year
Last week was tough for US stocks with the Dow Jones industrial average falling enough to place it in negative territory for the year. This week looked better as it managed to get back into positive territory during the week, but those gains looked to be in jeopardy on Friday. The Dow briefly fell to the 16,575.42 level on Friday, pushing it back into negative territory for the year, but managed to only fall 50.67 points (-0.30%) on the day. This was enough to allow it to stay in positive territory for the year. The Dow ended the week by closing up 0.7% at 16,662.91.

The S&P 500 almost ended the day even, but did retreat 0.12 points (-0.01%) to end the week at 1,955.06. That was up 23.61 points overall for the week, or a 1.2% increase. The S&P 500 had been flirting with the 2,000 point barrier last month, but a bad couple of weeks took it far off that mark. The last two weeks have seen it inch it way back from that mark to the point where it’s now almost 50 points away from that milestone.

The NASDAQ composite rose 11.93 points on Friday (0.27%) to end the week at 4,464.93. That was a a gain of 93.94 points for the week and a 2.2% rise for the entire week for the composite.

The markets seemed to continue to be heavily influenced by the tensions on the Russian and Ukraine border. Both the dips and rises in the market over the week seemed to follow news of rising or easing of tensions between the two countries, and the continued tension in this region may likely dictate how stocks perform next week.

The winners for the week included Warren Buffett‘s Berkshire Hathaway class A stock which managed to top $200,000 a share on Thursday for the first time giving the company a market value of $333 billion. Berkshire Hathaway stock has been outperforming all three indexes this year by a wide margin.

Monster Beverage Corporation saw its stock rise 30.5% to $93.49 a share on the news that Coca Cola would buy a 16.7% stake in the company. That $2.15 billion investment send Coca Cola shares rising as well, as they gained 1.7% to $40.88 a share on the news. While the soda industry market share has been flat lately, energy drinks have seen solid gains making the partnership a win-win for both companies in the eyes of investors.

Gilead Sciences saw its stock increase to $99.49 a share (+3.3%) on positive news it had won an arbitration ruling on a patent infringement claim against Roche Holding.

Chip equipment maker Applied Materials also had a nice 6.3% gain to $22.48 when it beat quarterly earnings estimates.

(Photo courtesy of Ken Lund)

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2 Responses to Ukraine Rattles Stocks but Dow Ends Week in Positive Territory for the Year

  1. bill says:

    Why does the situation in Ukraine seem to have such a large impact on how stocks in the US do?

  2. Francis says:

    It’s always a good week when stocks end up higher than they did the week before in my book.

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