Stocks rally on reports on Russian pullback from Ukraine


Stocks ended the week with strong gains, including a 185-point burst for the Dow, on reports that Russia was seeking to de-escalate tensions and had ended its military exercises along the Ukraine border.

The developments provided "a good excuse to work off an oversold condition," said analyst Peter Boockvar, who questioned whether it really shed any light on Putin's intentions.

The Russia-Ukraine news overshadowed U.S. airstrikes of Islamic militants in northern Iraq, which had contributed to early jitters; also, the shooting started again between Israel and Hamas.

All 10 S&P industry sectors finished in the black, led by shares of utility, energy and consumer discretionary stocks.

Treasurys shed all of their early gains and ended flat, with the benchmark 10-year yield at 2.42%.

Comments (8)
  • snoopy44
    , contributor
    Comments (1310) | Send Message
     
    I am confused. Why would Putin mobilize 20-25k troops to the border yesterday, only to pullback today? That does not make sense to me. What is the source for this so-called report of a de-escalation?
    8 Aug 2014, 04:38 PM Reply Like
  • Gary Jakacky
    , contributor
    Comments (2888) | Send Message
     
    If Putin is intentionally trying to manipulate markets, he need only make threats to a compliant, prostrate and largely gullible mainstream media. His oligarchs, tipped off in advance of his latest proclamations, can easily recover the financial fleabite from European "sanctions."
    8 Aug 2014, 07:15 PM Reply Like
  • Jason Cawley
    , contributor
    Comments (5477) | Send Message
     
    Anything Putin says, people believe, even though everything he says is a lie and has been forever. He simply tells them what they want to hear and then does the opposite. He is sure they will believe what they heard, because they wanted it to be true, not what is later reported he actually did. He has been doing this his entire career, and westerners still fall for it. Because they are brain dead and have the attention span of a cocker spaniel.
    8 Aug 2014, 08:03 PM Reply Like
  • daro
    , contributor
    Comments (1685) | Send Message
     
    Jason,

     

    I think you are right.
    8 Aug 2014, 09:31 PM Reply Like
  • Jack Hutchison
    , contributor
    Comments (510) | Send Message
     
    One can easily substitute "Obama" for "Putin".
    9 Aug 2014, 08:34 AM Reply Like
  • Username:
    , contributor
    Comments (51) | Send Message
     
    Anything [any politician] says, people believe, even though everything [s/]he says is a lie and has been forever. [S/]He simply tells them what they want to hear and then does the opposite. [S/]He is sure they will believe what they heard, because they wanted it to be true, not what is later reported [s/]he actually did. [S/]He has been doing this his[/her] entire career, and [poltroons] still fall for it. Because they are brain dead and have the attention span of a cocker spaniel.
    9 Aug 2014, 11:58 AM Reply Like
  • sethmcs
    , contributor
    Comments (3515) | Send Message
     
    Your comment seems more appropriate referring to the comments made by Wall Street analysts.
    11 Aug 2014, 10:04 PM Reply Like
  • tjn6175
    , contributor
    Comments (46) | Send Message
     
    Too many variables. Doesn't surprise me the algos cranked it up on the news. How many bounces off 1900 does it take to believe there was support there for the last couple days. Remember when 1900 was strong resistance. Sure looks like support now.
    8 Aug 2014, 10:28 PM Reply Like
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