Stocks volatile as oil, gold down, Tesla talks stock split

FOX Business Flash top headlines for March 28

Here are your FOX Business Flash top headlines for March 28.

U.S. stocks were volatile early Tuesday, whipsawing between positive and negative territory after finishing higher Monday to start the week.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES34955.89+94.65+0.27%
SP500S&P 5004575.52+32.46+0.71%
I:COMPNASDAQ COMPOSITE INDEX14354.901872+185.60+1.31%

U.S. stocks closed slightly higher following a choppy session, and bond yields remained near their highest levels in three years, with investors preparing for a campaign of interest-rate increases from the Federal Reserve. 

Stocks rose at the open, lost ground throughout the morning and then recovered to finish the day. 

ECONOMIST WARNS US FACING 'VERY SIGNIFICANT SLOWDOWN'

The S&P 500 added 32.46 points, or 0.7%, to close Monday at 4575.52. 

Consumer discretionary, technology and real-estate stocks rose, while energy shares led the benchmark's decliners. The tech-focused Nasdaq Composite rose 185.60 points, or 1.3%, to 14354.90, while the Dow Jones Industrial Average added 94.65 points, or 0.3%, to close at 34955.89. 

U.S. stocks closed slightly higher following a choppy session, and bond yields remained near their highest levels in three years, with investors preparing for a campaign of interest-rate increases from the Federal Reserve. (Nicole Pereira/New York Stock Exchange via AP / AP Images)

The moves followed last week's rebound, as stocks rose for a second consecutive week. 

Fed officials have recently signaled openness to the central bank making half-percentage-point interest rate increases if the economic outlook calls for it, rather than the quarter-percentage-point changes that are more customary. This has led economists and investors to re-evaluate how quickly they expect rates to climb.

Trading has remained choppy as investors try to gauge what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out.

RUSSIA INVADES UKRAINE: LIVE UPDATES

Ukrainian forces claimed to have retaken a Kyiv suburb and an eastern town from the Russians in what is becoming a back-and-forth stalemate on the ground, while negotiators began assembling in Turkey for another round of talks Tuesday aimed at stopping the fighting.

Ukrainian President Volodymyr Zelenskyy said his country could declare neutrality to secure peace, but would prioritize protecting its sovereignty and territory.

Smaller company stocks were little changed. The Russell 2000 index inched up less than 0.1% to 2,078.06.

TESLA JUICES CONSUMER DISCRETIONARY ETFS ON STOCK SPLIT PLAN

Tesla jumped 8% after saying it would seek shareholder approval to do another stock split. Plantronics jumped 52.6% after HP said it will buy the headset maker.

Crude oil prices fell further after sinking 7% on Monday.

U.S. crude oil lost 71 cents to $105.21 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, it slumped 7% and Brent crude, the international standard, fell 6.8%.

Brent crude shed 84 cents to 108.65 per barrel in London.

The latest retreat in oil prices followed the news of China’s most extensive coronavirus lockdown in two years to control a growing outbreak in Shanghai. That could put a dent in global demand for energy.  (Courtney Crow/New York Stock Exchange via AP / AP Images)

The latest retreat in oil prices followed the news of China's most extensive coronavirus lockdown in two years to control a growing outbreak in Shanghai. That could put a dent in global demand for energy.

OIL PRICES SLIDE AMID SHANGHAI TWO-STAGE LOCKDOWN

Oil prices remain volatile amid the backdrop of Russia's invasion of Ukraine. The United Arab Emirates’ energy minister doubled down Monday on an oil alliance with Russia, saying that nation, with its 10 million barrels of oil a day, is an important member of the global OPEC+ energy alliance.

Oil prices are up about 40% globally over concerns about tighter supplies as demand remains strong. Higher oil prices are also raising concerns that already persistently high inflation could be worsened, further threatening global economic growth.

Investors will get more updates this week on just how much inflation is hurting consumers and businesses.  (Courtney Crow/New York Stock Exchange via AP / AP Images)

Investors will get more updates this week on just how much inflation is hurting consumers and businesses. The Conference Board will release its consumer confidence index for March on Tuesday. The Commerce Department will release its February report for personal income and spending on Thursday and the Labor Department will release its employment report for March on Friday.

Meanwhile, Asian shares were higher Tuesday after an advance on Wall Street ahead of another round of peace talks between Russia and Ukraine.

Tokyo's Nikkei 225 rose 0.6% to 28,110.73 and the Kospi in Seoul added 0.3% to 2,737.05. The Hang Seng in Hong Kong picked up 0.6% to 21,826.68, while the Shanghai Composite index lost 0.2% to 3,207.64 as the city entered a second day of a lockdown to combat a COVID-19 outbreak.

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Australia's S&P/ASX 200 surged 0.7% to 7,467.20. Its government plans to increase spending on national security while reducing costs for households, in part by reducing a tax on gasoline, Treasurer Josh Frydenberg said before presenting a budget proposal Tuesday.

In currency trading, the dollar slipped to 123.48 Japanese yen from 123.77 yen. The euro rose to $1.0989 from $1.0983.

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