Markets Rise Sharply Following A Pullback In Oil Prices

U.S. indices traded sharply higher Wednesday amid continued volatility on Ukraine-Russia concerns. A pullback in oil prices following the recent crude rally has helped alleviate some concerns of rising commodity costs.

• The Nasdaq composite finished higher by 3.59% to 13,255; The Invesco QQQ Trust Series 1 QQQ gained 3.60% to $334.99
• The S&P 500 traded higher by 2.57% to 4,277; The SPDR S&P 500 ETF Trust SPY gained 2.67% to $427.41
• The Dow Jones composite finished higher by 1.84% to 11,372; The SPDR Dow Jones Industrial Average ETF Trust DIA finished higher by 2.07% to $333.29

Here are the day's winners and losers from the S&P 500, according to data from Benzinga Pro.

Moderna Inc MRNA, Carnival Corp CCL and Caesars Entertainment Inc CZR were among the top gainers for the SPY Wednesday.

Phillips 66 PSX, Exxon Mobil Corp XOM and Schlumberger NV SLB were among the top losers for the S&P 500.

Elsewhere On The Street

Snap Inc SNAP and Pinterest Inc PINS were trading 8% higher at one point on Wednesday, as the general markets rebounded from a steep 4-day downturn during which the S&P 500 declined over 5%... Read More

Prior to the invasion of Ukraine by Russia and the levying of numerous sanctions on Russia by the U.S., members of Congress purchased defense and energy stocks. Here’s a look at the trades… Read More

Central banks have recently focused on so-called core inflation metrics, which do not include volatile food and energy prices. Past food and energy price shocks have been relatively short-lived, but Bank of America economist Aditya Bhave recently said there's evidence the recent spike in food and energy prices may not be going away anytime soon… Read More