Stocks rise, oil nears $110 a barrel, Ford jumps - Fox Business

BMO Capital Markets chief strategist Brian Belski anticipates how the market will continue respond to the Russia-Ukraine conflict on 'Mornings with Maria.'

U.S. stocks moved higher ahead of the opening bell with all three of the major averages seeing gains. 

RUSSIA INVADES UKRAINE: LIVE UPDATES

Oil prices surged more than $5 per barrel nearing $110 as Russian forces stepped up attacks on Ukrainian cities.

Ticker	Security	Last	Change	Change %
USO	UNITED STATES OIL FUND L.P.	71.82	+4.34	+6.43%
BNO	UNITED STS BRENT OIL FD LP UNIT	29.37	+2.21	+8.14%

Oil prices rose despite an agreement by the U.S. and other major governments in the International Energy Agency to release 60 million barrels from strategic reserves to stabilize supply Tuesday. 

EXXONMOBIL TO HALT OIL PRODUCTION IN RUSSIA, SUSPEND NEW INVESTMENTS THERE AMID WAR WITH UKRAINE

In stock news, Ford CEO Jim Farley announced he was dividing two of the automaker's key units into separate businesses. "Ford Blue and Ford Model e will operate as distinct businesses, but share relevant technology and best practices to leverage scale and drive operating improvements; along with Ford Pro" the company announced, a further move in Farley's turnaround. 

Ticker	Security	Last	Change	Change %
F	FORD MOTOR CO.	16.70	-0.86	-4.90%

In earnings news, SoFi shares jumped after reporting a better-than-expected quarter and lifting its 2022 outlook.

Ticker	Security	Last	Change	Change %
SOFI	SOFI TECHNOLOGIES	11.20	-0.25	-2.18%

Dow member SalesForce also gained after boosting its 2022 forecast and now expects to earn as much as $32 billion. 

Ticker	Security	Last	Change	Change %
CRM	SALESFORCE.COM INC.	208.89	-1.64	-0.78%

Intel also in focus after President Biden announced during his State of the Union that the chipmaker may boost its $20 billion investment in its Ohio plant to $100 billion as CEO Pat Gelsinger received a shout out. 

Ticker	Security	Last	Change	Change %
INTC	INTEL CORP.	46.82	-0.88	-1.84%

Elsewhere, companies continue to cut ties with Russia, late Tuesday Apple said it has stopped selling its iPhone and other popular products there. BP and Shell are pulling out of investments in the Russian oil industry. Also, Boeing said it suspended major operations in Moscow and temporarily closed its office in Kyiv. Additionally, it suspended supplying parts, maintenance and technical support services to Russian airlines.

Ticker	Security	Last	Change	Change %
AAPL	APPLE INC.	163.20	-1.92	-1.16%
SHEL	SHELL PLC	51.77	-0.62	-1.18%
BP	BP PLC	28.49	-0.72	-2.46%
BA	THE BOEING CO.	194.91	-10.43	-5.08%

The Russia-Ukraine war is adding to worries about global economic growth in the face of plans by the Federal Reserve and other central banks to fight surging inflation by raising interest rates. Investors await more clues about possible rate hikes when Fed Chair Jerome Powell speaks Wednesday before Congress.

AP Photo/Jacquelyn Martin, File (AP Photo/Jacquelyn Martin, File)

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Traders will get the first of this week's labor-related reports. The payroll processing firm ADP releases its National Employment report for February. Economists are looking for a gain of 388,000 private-sector jobs, a reversal from January’s surprise loss of 301,000 jobs.

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Bitcoin is trading above $43,000.

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FOX Business' Ken Martin and The Associated Press contributed to this report.

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