Nathan Hager

Bloomberg's Dan Williams reporting from Jerusalem.

Gasoline prices have topped $4 a gallon for the first time in nearly four years.

AAA's nationwide average for regular unleaded now sits at $4.02.

The price has jumped more than a dollar since the war began.

Bloomberg News oil strategist Julian Lee says it's a function of the crude market.

Bloomberg News oil strategist Julian Lee checking prices right now.

Brent crude is down 0.5%, trading near $107 a barrel.

West Texas Intermediate's above $102.

Stocks are surging with the S&P 500 up 1.5%.

The Dow Jones Industrial Average is up 1.1%.

The Nasdaq Composite is soaring by 2%.

The 10-year Treasury yield is at 4.31%.

Bloomberg News has learned European Central Bank President Christine Lagarde used an audience of high-level G7 officials to challenge Treasury Secretary Scott Besson's assertion that the war's economic fallout will be short-lived.

Sources tell us Lagarde told Besson and the central bankers that the effects will be felt for a long time because so much has already been destroyed.

We have some fresh economic data that may be helping to give U.S.

markets a boost.

The conference board is out with its March Consumer Confidence Index.

Bloomberg's Michael McKee has that.

Bloomberg's Mike McKee notes the University of Michigan's consumer survey showed a drop in confidence this month.

We also got job openings data for February.