Oil Stocks Rally On Trump's Russia Sanctions: What's Moving Markets Thursday?

Energy markets dominated headlines Thursday as a fresh wave of U.S. sanctions targeting Russia's oil giants sparked a sharp rebound in crude prices and lifted energy shares.

On Wednesday, President Donald Trump's administration imposed sweeping restrictions on Rosneft and Lukoil, ramping up pressure on Russian President Vladimir Putin to agree to a ceasefire in Ukraine. The U.S. Treasury also warned it could impose secondary sanctions on foreign entities doing business with Russia's defense or energy sectors.

The market reaction was immediate. West Texas Intermediate crude jumped more than 5% to $62 per barrel, on pace for its strongest session since June. The Energy Select Sector SPDR Fund (NYSE:XLE) climbed 1.9%, outperforming all other S&P 500 sectors.

Despite higher oil prices, broader equity sentiment remained positive. By midday in New York, the S&P 500 was up 0.4% to 6,730, while the Nasdaq 100 gained 0.8% to 25,080.

In commodities, gold and silver advanced 1.6% each as investors stepped in after this week's steep declines.

Meanwhile, bond yields rose, with the 10-year Treasury up 5 basis points to 4.00% and the 30-year at 4.55%.

In crypto markets, sentiment was positive, with Bitcoin (CRYPTO: BTC) climbing 2.2%.

Thursday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.5% to $616.79.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.2% up to $466.54.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 0.7% to $609.77.
• The iShares Russell 2000 ETF (NYSE:IWM) rallied 1% to $245.59.
• The Energy Select Sector SPDR Fund outperformed, up 1.9%; the Consumer Staples Select Sector SPDR Fund (NYSE:XLP) lagged, down 0.8%.

Thursday’s Stock Movers On Earnings Reports

• Tesla, Inc. (NASDAQ:TSLA) down 1.0%
• International Business Machines Corporation (NYSE:IBM) down 1.1%
• T-Mobile US, Inc. (NASDAQ:TMUS) down 4.6%
• Blackstone Inc. (NYSE:BX) down 3.9%
• Lam Research Corporation (NASDAQ:LRCX) up 4.6%
• Honeywell International Inc. (NASDAQ:HON) up 7.4%
• Union Pacific Corporation (NYSE:UNP) down 2.0%
• Sanofi (NASDAQ:SNY) up 0.5%
• O’Reilly Automotive, Inc. (NASDAQ:ORLY) down 5.4%
• Freeport-McMoRan Inc. (NYSE:FCX) up 1.7%
• Kinder Morgan, Inc. (NYSE:KMI) down 3.2%
• United Rentals, Inc. (NYSE:URI) down 7.6%
• Valero Energy Corporation (NYSE:VLO) up 6.3%
• Roper Technologies, Inc. (NASDAQ:ROP) down 6.7%
• CBRE Group, Inc. (NYSE:CBRE) up 0.2%
• Crown Castle Inc. (NYSE:CCI) down 1.7%
• Las Vegas Sands Corp. (NYSE:LVS) up 11.8%
• PG&E Corporation (NYSE:PCG) down 1.3%
• Raymond James Financial, Inc. (NYSE:RJF) down 1.7%
• Tractor Supply Company (NASDAQ:TSCO) up 4.4%
• FirstEnergy Corp. (NYSE:FE) down 0.8%
• CenterPoint Energy, Inc. (NYSE:CNP) down 1.2%
• Dover Corporation (NYSE:DOV) up 6.1%
• STMicroelectronics N.V. (NYSE:STM) down 12.7%
• First Citizens BancShares, Inc. (NASDAQ:FCNCA) up 0.4%
• West Pharmaceutical Services, Inc. (NYSE:WST) up 11.5%
• Rogers Communications Inc. (NYSE:RCI) up 1.2%
• Packaging Corporation of America (NYSE:PKG) flat (down 0.1%)
• Dow Inc. (NYSE:DOW) up 11.5%
• TechnipFMC plc (NYSE:FTI) up 8.6%
• Southwest Airlines Co. (NYSE:LUV) down 7.5%
• TransUnion (NYSE:TRU) up 4.0%
• Carpenter Technology Corporation (NYSE:CRS) up 24.0%
• Allegion plc (NYSE:ALLE) down 4.9%
• Reliance, Inc. (NYSE:RS) down 1.2%
• Textron Inc. (NYSE:TXT) down 3.2%
• Annaly Capital Management, Inc. (NYSE:NLY) down 1.8%
• Graco Inc. (NYSE:GGG) down 1.8%
• CACI International Inc. (NYSE:CACI) up 10.3%
• Equity LifeStyle Properties, Inc. (NYSE:ELS) down 5.1%
• Mobileye Global Inc. (NASDAQ:MBLY) down 1.7%
• Globe Life Inc. (NYSE:GL) up 0.2%
• Alcoa Corporation (NYSE:AA) up 15.1%
• SEI Investments Company (NASDAQ:SEIC) down 1.4%
• Molina Healthcare, Inc. (NYSE:MOH) down 20.7%

Stocks slated to report earnings after the close include Intel Corp. (NASDAQ:INTC), Newmont Corp. (NYSE:NEM), Norfolk Southern Corp. (NYSE:NSC), Digital Realty Trust Inc. (NYSE:DLR), Ford Motor Co. (NYSE:F), Baker Hughes Co. (NASDAQ:BKR), Comfort Systems USA Inc. (NYSE:FIX), Verisign Inc. (NASDAQ:VRSN), SS&C Technologies Holdings Inc. (NASDAQ:SSNC), and Deckers Outdoor Corp. (NYSE:DECK).

Read Next:

• Don’t Call It A Bubble: Why Gold’s Rally Has Deep, Structural Support

Image created using artificial intelligence via Midjourney.