- Wall Street advances Monday amid improved market sentiment.
- Hopes for progress in Ukraine-Russia talks have whetted risk appetite.
- Banks lead gains as major central banks hint at higher rates.
US markets have opened the week with a moderately positive tone, following the trend observed in Europe. Investor hopes for some progress in the Russia-Ukraine peace talks appear to have raised expectations of a ceasefire, prompting some resurgence in risk appetite.
The S&P 500 It is trading 0.90% higher an hour after the opening bell. Stock markets are enjoying efforts to stop the Eastern European conflict after senior officials from both sides expressed confidence in achieving some results in the coming days.
Market sentiment, however, remains fragile as Russia continues to bombard Ukrainian cities, with the world holding its breath after a Russian missile strike hit a military compound just 25km away from the NATO border. .
Additionally, the Dow Jones Industrial Average is up 1.25% at the time of writing, while the Nasdaq Technical Index is up 0.33% after a shaky open.
Looking at sectors, financials are leading the gains on Monday, advancing 2.71% buoyed by hopes of rate hikes at most major central banks. On the downside, the energy sector falls 2.5% with oil prices falling sharply on the back of Ukraine-Russia peace talks and rising COVID-19 cases in China.
Technical levels
SP500
| Panorama | |
|---|---|
| Last Price Today | 4199.87 |
| Today’s Daily Change | 0.00 |
| Today’s Daily Change % | 0.00 |
| Today’s Daily Opening | 4199.87 |
| Trends | |
|---|---|
| 20 Daily SMA | 4319.73 |
| 50 Daily SMA | 4461.39 |
| 100 Daily SMA | 4562.34 |
| 200 Daily SMA | 4476.63 |
| levels | |
|---|---|
| Previous Daily High | 4334.16 |
| Previous Daily Minimum | 4197.07 |
| Previous Maximum Weekly | 4334.16 |
| Previous Weekly Minimum | 4144.12 |
| Monthly Prior Maximum | 4592.23 |
| Previous Monthly Minimum | 4105.11 |
| Daily Fibonacci 38.2% | 4249.44 |
| Daily Fibonacci 61.8% | 4281.79 |
| Daily Pivot Point S1 | 4153.24 |
| Daily Pivot Point S2 | 4106.61 |
| Daily Pivot Point S3 | 4016.15 |
| Daily Pivot Point R1 | 4290.33 |
| Daily Pivot Point R2 | 4380.79 |
| Daily Pivot Point R3 | 4427.42 |
Source: Fx Street
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