Wall St jumps with Ukraine peace talks and ahead of Fed

Wall St jumps with Ukraine peace talks and ahead of Fed

Wall Street sign in front of the New York Stock Exchange building, USA

By Devik Jain and Bansari Mayur Kamdar

(Reuters) – Wall Street’s major indexes rose on Wednesday, led by gains in technology and financials, with signs of progress in Ukraine-Russia peace talks boosting the market ahead of a widely expected rate hike by the Federal Reserve.

Ten of the 11 major S&P sectors were up, with financials up 2.1%. Morgan Stanley gained 3.5% as big banks benefited from expectations that the US central bank will announce its first rate hike since 2018.

Mega-cap companies Apple Inc and Microsoft Corp each gained 1.3%, providing the biggest boost to the S&P 500 and Nasdaq.

Ukraine’s President Volodymyr Zelenskiy said negotiations with Russia were becoming “more realistic”, while Russian Foreign Minister Sergei Lavrov said there was “some hope of compromise”.

The global climate was also helped by China’s pledge to roll out more stimulus to the economy and keep markets stable, boosting US-listed Chinese stocks.

Meanwhile, the Fed is expected to raise interest rates by at least 0.25 percentage point by the end of its two-day meeting. Your statement will be released at 15:00 (Brasília time).

At 11:38 (GMT) the S&P 500 index was up 1.88% at 4,342.42 points, while the Dow Jones was up 1.20% at 33,948.15 points. The Nasdaq Composite technology index rose 2.72% to 13,300.95 points.

(By Devik Jain)

tagreuters.com2022binary_LYNXNPEI2F0Q6-BASEIMAGE


know more

+ Omicron: Unexpected symptom of infection in children worries medical teams

+ Mercadão de SP vendors threaten customers with fruit scam

+ Video: Mother is attacked on social media for wearing tight clothes to take her son to school
+ Horoscope: check today’s forecast for your sign

+ What is known about fluorone?
+ Trick to squeeze lemons becomes a craze on social media
+ ‘Monster Ichthyosaur’ is discovered in Colombia

+ One twin became vegan, the other ate meat. Check the result
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship sinking in 2011
+ US Agency warns: never wash raw chicken meat


About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

Check Also

Gunman monitored location and targeted busy time in Buffalo | CNN SUNDAY

> Gunman monitored location and targeted busy time in Buffalo | CNN SUNDAY – YouTube簡介媒體版權與我們聯絡創作者廣告開發人員條款隱私權政策與安全性YouTube …