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The S&P 500 and the Dow Jones index rise with focus on Russia-Ukraine peace talks, Federal Reserve
Gains in financial and healthcare stocks boosted the Dow and S&P 500 on MondayInvestors have pinned their hopes on peace talks between Russia and Ukraine, with their focus shifting to the upcoming federal policy meeting.
The conflict has disrupted global financial markets and raised concerns about hyperinflation The prices of oil and other basic commodities have skyrocketed in the face of harsh Western sanctions against Russia.
Talks between Ukraine and Russia were suspended on Monday It will continue on Tuesday, a Kyiv negotiator said on Twitter.
Ukraine has started “difficult” talks with Russia on a ceasefireAn immediate withdrawal of forces and security guarantees despite the deadly bombing of an apartment building in Kyiv.
“Obviously we’ve done a lot of multiple contractions across the board. You have this market that will continue to hold the headlines coming from Russia and Ukrainesaid Art Hogan, chief market strategist at National Securities.
“Energy prices have fallen a bit and this helps alleviate some inflation fears. The Fed is likely to get its first rate hike, and exceeding that is likely to be a positive thing, but that won’t happen until Wednesday.”
11:43 a.m. ET The Dow Jones Industrial Average rose 240.53 pointsor 0.73% at 33184.72, the The S&P 500 rose 4.40 pointsor 0.10% at 4208.71, and The Nasdaq Composite fell 114.83 pointsor 0.89% at a price of 12,728.98.