Dow Jones jumped 600 points, Nasdaq jumped to + 2.9%

Wall Street indexes rallied on Tuesday, with the industrial Dow Jones gaining nearly 600 points and the tech Nasdaq closing with a 2.9% jump as the new oil price slump and slightly better-than-expected price measurements Inflation worries helped to ease shortly before the Federal Reserve’s monetary policy decisions.

Oil prices today fell below the psychological level of $ 100 a barrel and entered a bear marketwith total losses of more than 20% from the highs recorded last week, exceeding $ 139 a barrel.

Combined with the data on wholesale prices, which fluctuated even marginally below market estimates in February, concerns about the course of extremely high inflation seem to be limited to a degree.

Specifically, the producer price index rose 0.8% after rising 1.2% in January, while analysts expected it to move at a rate of 0.9%, although on an annual basis it remained at 10% as expected. However, the course of the so-called structural index, which excludes the highly volatile energy and food prices and which moved significantly lower than the estimates at 0.2% compared to the forecast for 0.6%, seems to be more important.

These data come as the two-day meeting of the Federal Reserve begins today. The US Federal Reserve is expected to announce tomorrow the first increase in interest rates since 2018, beginning the cycle of tightening its policy, with geopolitical developments, however, have virtually eliminated the possibility of a more aggressive move from the 25 basis points.

Indicators – Statistics

On the board, Dow Jones added 599.10 points or 1.82% and closed at 33,544.34 points. The S&P 500 was up 89.34 points, or 2.14%, at 4,262.45 points, while the tech Nasdaq was up 367.40 points, or 2.92%, at 12,948.62 points.

Of the 30 stocks that make up the Dow Jones industrial index 28 are moving with a positive sign and only two with a negative. The biggest gainers were Walt Disney with gains of $ 5.17 or 4.01% at $ 134.20, followed by Microsoft with gains of 3.87% at $ 287.15 and Procter & Gamble at 150, $ 27 with an increase of 3.60%.

The shares with the biggest losses today were Chevron (-5.06%) and Dow (-2.34%).

The statement by Ukrainian President Volodymyr Zelensky that Kyiv is ready to accept security guarantees, without mentioning the country’s membership in NATO, gave impetus to the climate, while shortly before the closing of the talks the Ukrainian delegation in the talks spoke about “margins of compromise” with the Russian side, leaving a ray of hope for something more tangible in the coming days.

For the rest of the day, macroeconomic news was negative from the Empire State of New York Index, which fell 14.9 points to -11.8 points, while economists expected the index to be formed in 5.5 units.

Among other things, both orders and shipments fell in March, while there were continued substantial increases in import prices and sales prices.