After the Bell: 2/23/22

Hopes of a diplomatic resolution for the Russia-Ukraine situation appeared to deteriorate this week, and the markets are reacting.

The losses on Wall Street extended today with the S&P and the Dow now at their lowest levels of the year.
The Dow fell another 464 points to close at 33,131
The Nasdaq dropped 344 points, over 2.5 percent
The S&P lost 79 points.

Fewer people are lining up to buy a home. Climbing mortgage rates
Are hitting both potential homebuyers and people looking to
refinance. Total mortgage applications fell 13-percent last week
To the lowest level since December 2019.

Earnings reports:
Lowe’s shares were up almost 4-percent after strong quarterly results and strong demand for tools.
Virgin Galactic shares surged 13-percent. Virgin says it should have a spaceship enter commercial service later this year.

Target is ready to try something this fall when you order curbside pickup, some Target stores will let you add a Starbucks order that someone will also gladly bring to your car. Two for one. Get your Target items and your hot drink.
Target says its curbside pickup option grew 60-percent last quarter.

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