Start the conversation
Dow Jones Today: Markets roared again on Tuesday on easing geopolitical tensions in Eastern Europe and stronger earnings results. The Dow Jones Industrial Average climbed 86.63 points to 16,535.37. The S&P 500 was up 8.9 points to finish at 1,878.33, and the Nasdaq rose 29.14 points to finish at 4,103.54.
Here's your recap of today's major market events…
- Sanctions Hold Up: It looks like Morgan Stanley (NYSE: MS) may have to wait a while before it can sell its physical oil unit to OAO Rosneft Oil Co. (OTC: RNFTF). The sale is yet to be submitted to U.S. regulators, and there is a good reason why. The United States has placed sanctions on Rosneft Chief Executive Officer Igor Sechin. Due to increased tensions between Russia and Ukraine, it is unlikely that the U.S. Committee on Foreign Investment would approve the deal. The sale of this unit is a big deal, given Morgan Stanley's prominence in the commodity markets just six years ago. Few remember that in 2008, Morgan Stanley was technically the largest oil company in the world, given their immense paper contract holdings in oil and gas futures.
- Looking for a White Knight: Healthcare M&A is still on a torrid pace. Reports indicate that Allergan Inc. (NYSE: AGN) is seeking a white knight after it received an unsolicited $45.7 billion bid from Valeant Pharmaceuticals Intl Inc. (NYSE: VRX). The company is now shopping itself to several companies, including Johnson & Johnson (NYSE: JNJ) and Sanofi SA (NYSE ADR: SNY).
- Russia Stands Down: It looks like Eastern Europe can breathe a little easier. Today, Russian diplomats assured that it would not invade Ukraine and that its troops have left the border. The announcement comes in the wake of the United States' and European Union's ramped up sanctions.