Key Wall Street indexes are gaining momentum in Tuesday’s trading session as Moscow’s decision to withdraw some of its troops from the Ukrainian border rekindles hopes that the diplomatic fever of recent days has begun to bear fruit.
Interfax reported today that the Russian Ministry of Defense reported that units from the southern and western regions are returning to their bases after completing their mission.
The withdrawal is estimated at about 10,000 of the 130,000 troops gathered at the Ukrainian border. The move comes as German Chancellor Olaf Soltz is in talks today with Russian President Vladimir Putin to de-escalate the crisis.
However, NATO Secretary General Jens Stoltenberg warned today that “to date we have not seen any sign of de-escalation on the Russian side.”
Indicators – Statistics
On the board, the industrial Dow Jones gained 435.79 points or 1.26% to 35,002.03 points, while the broader S&P 500 adds 61.87 points or 1.42% to 4,464.13 points. The technological Nasdaq strengthened by 239.52 points or 1.74% to 14,030.44 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 gainer is Boeing with gains of $ 8.64 or 4.11% at $ 218.68, followed by Nike at $ 145.19 with gains of 2.54% and American Express at $ 196.76. with an increase of 2.29%.
Chevron (-0.78%) and 3M (-0.63%) are moving negatively.
Markets, meanwhile, continue to assess the chances of the Federal Reserve launching an aggressive policy-tightening cycle next month to tackle higher inflation in 40 years.
The data released today on the price trend at the producer level did not help allay concerns about the inflation rally. The producer price index rose 1% on a monthly basis in January, double the 0.5% expected by analysts in a Wall Street Journal poll.
On an annual basis, the index jumped 9.7%.
For the rest of the day, the New York Fed’s Empire State Manufacturing Index climbed to 3.1 in February after falling to -0.7 in January. The index, however, failed to confirm the estimates of analysts who placed it at 12 in a Bloomberg poll. Measurements below zero show a decrease in activity.
The New York Fed survey showed that strong inflationary pressures remain. The price index climbed 17 points to 54.1, the highest level since data collection began in 2001.
Source: Capital
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