After the Bell Business Report 3/3/22

It’s a first, a U.S. city has now hit an average of $5 a gallon at the gas pump.
The Russia/Ukraine war rages on and the price of oil hit $116 a barrel today. At the closing bell, oil had dropped back down to around $108 a barrel.

The Dow lost 96 to close at 33,794.
The Nasdaq fell 214, about 1.5%.
The S&P lost 23 on the day, about .5%.

It’s a first, a U.S. city has now hit an average of $5 a gallon at the gas pump.
Gas in San Francisco now averages $5 and experts say the rest of California will follow in a couple weeks. Since Monday, the national average has gone up 11 cents to $3.72 a gallon.

First, the pandemic disrupted the auto supply chain, then the computer chip crunch. Now, Russia’s war in Ukraine is becoming the third crisis to hit the auto industry. VW says it’s no longer sending cars to Russia. Ford and Renault have also paused production there.

And a couple earnings reports: Best Buy jumped 8% after raising its quarterly dividend.
And Kroger beat expectations and watched its shares jump 11% today.

From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.

#BEONDTV #financialnews #gasprices #businessreport #stockmarkets #marketclosing