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Flags are seen outside the New York Stock Exchange (NYSE) in New York City, where markets roiled after Russia continues to attack Ukraine, in New York, US, February 24, 2022. — Reuters pic
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NEW YORK, March 25 — Wall Street stocks were mixed in early trading today as a volatile week neared its conclusion, while US and European allies strategised on further measures to counter Russia’s invasion of Ukraine.
Following a day of meetings in Brussels, President Joe Biden and EU commission president Ursula von der Leyen announced a joint task force to lessen Europe’s dependence on Russian fossil fuels.
Equities have been on a roller coaster all week, with investors weighing bargain-hunting instincts after a sluggish start to 2022 against worries over inflation.
Briefing.com analyst Patrick O’Hare noted that the narrowing gap between long- and short-term US Treasury bond yields suggests unease over the global growth outlook, saying that the sustainability of the recent rally “remains in question.”
About 30 minutes into trading, the Dow Jones Industrial Average was up 0.3 per cent at 34,805.31.
The broad-based S&P 500 added 0.1 per cent at 4,524.01, while the tech-rich Nasdaq Composite Index dipped 0.4 per cent to 14,133.27.
Among individual companies, Bed Bath & Beyond was up 1.6 per cent after the retailer announced an agreement with activist shareholder Ryan Cohen to add three board members picked by his firm. — AFP