Market Hustle: Stock Futures Climb on Easing Ukraine Tensions

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a market rebound as investors focused on subsiding tensions in Ukraine.

  • Dow Jones Industrial Average futures were jumping 161 points, or 154.97 points above fair value, to 16,309. S&P 500 futures were gaining 18.25 points, or 17.32 points above fair value, to 1,861.25. Nasdaq futures were advancing 37.7 points, or 38.68 points above fair value, to 3,706.5.
  • Elevated concerns about Ukraine-Russia tensions were relieved after a reported 5 a.m. Tuesday (10 p.m. EST Monday) Russian military deadline for Ukrainian forces in Crimea to surrender passed without any consequences.
  • Russian President Vladimir Putin has ordered troops that were engaged in military exercises in western Russia back to base by Friday and said at a press conference Tuesday that any show of force would be a measure of "last resort" that is currently highly unlikely to take place. He added, though, that, if called for, Russia would protect Russians in Ukraine by all means necessary.
  • International markets were broadly higher, with the FTSE 100 in London up 1.38%, the DAX in Germany up by 1.97%, the Hong Kong Hang Seng settling up 0.7%, and the Nikkei 225 in Japan closing up 0.47%.
  • U.S. markets closed sharply lower Monday as risk aversion spread across global markets amid the potential conflict in Ukraine.
  • AutoZone (AZO) was advancing more than 3% after posting fiscal second-quarter earnings per share of $5.63 on revenue of $2 billion; analysts were looking for earnings of $5.55 a share on revenue of $1.97 billion. The company said extreme weather conditions drove growth acceleration in certain failure related hard part categories during the quarter.
  • Tesla (TSLA) was popping more than 2% after announcing at the Geneva Motor Show that it will open more than 30 new service centers and stores across Europe to address a growing customer base and that it will keep expanding its Supercharger network in the continent.
  • Abercrombie & Fitch (ANF) was poised for stronger action after the stock was boosted to "outperform" from "neutral" at Credit Suisse.
  • RadioShack (RSH) was plummeting nearly 21% after the company's fourth-quarter results missed expectations by a wide margin as same-store sales plunged 19%. The electronics retailer said that it plans to shutter as many as 1,100 of its underperforming stores in the U.S.

-- Written by Andrea Tse in New York

If you liked this article you might like

Forecast for S&P 500, Dow Industrials Remains Bullish, These Charts Show

Dow 20,000! It Should Mean Nothing to Investors, but Then Again...

Tradebird Investors Are Bullish on U.S. Stocks but Bearish on the Euro

Why Home Depot and Boeing Stock Fell Tuesday