Oil prices surged over 5% after the U.S. imposed sanctions on Russian companies due to the Ukraine conflict. Stock indexes climbed as energy shares rose, despite mixed earnings news. Positive earnings reports boosted stocks, with Honeywell up 7.6% but IBM down 1.2%. The Dow rose 0.39%, S&P 500 0.70%, Nasdaq 1.05%.

Global stocks rose, with the STOXX 600 hitting a record high, led by energy stocks. Chinese stocks recovered after news of potential U.S. export restrictions. Oil futures jumped following Russia sanctions, with U.S. crude up 5.6% at $61.79 a barrel. Brent rose to $65.93.

U.S. Treasury yields increased after the sanctions, with investors preparing for U.S. inflation data. Gold prices rose 1.04% to $4,136.34 an ounce amid geopolitical tensions. The dollar index rose to 98.99 as investors expect the Fed to continue cutting interest rates. Against the yen, the dollar strengthened to 152.6.

Read more at Yahoo Finance: Oil jumps after Russia sanctions; stocks, US yields rise