Third consecutive session with gains for S&P and Dow Jones

Wall Street closed higher on Monday with the Dow Jones and the S&P 500 completing three consecutive bullish sessions as investors awaited the start of a new round of Russia-Ukraine talks.

A stimulus to the climate was given by a publication of the Financial Times that Russia no longer demands the de-Nazification of Ukraine and is ready to let Kyiv join the EU. if it remains militarily non-aligned.

Moscow and Kyiv are discussing a cessation of hostilities as part of a possible deal that would see Ukraine abandon its bid to join NATO in exchange for security guarantees and the prospect of joining the EU. sources refer to the FT.

The draft document on the ceasefire does not contain any discussion of three of Russia’s initial demands – “de-Naziization”, “demilitarization” and legal protection of the Russian language in Ukraine, the sources added.

Ukrainian President Volodymyr Zelensky said yesterday that Ukraine was ready to discuss the adoption of a neutral regime as part of a peace agreement with Russia, but added that there should be guarantees from third parties and any agreement should be put to a referendum. . At the same time, he rejected Russia’s demands for the demilitarization of the country.

Indicators – Statistics

On the board, the Dow Jones added 94.65 points or 0.27% to 34,955.89 points, while the broader S&P 500 gained 32.46 points or 0.71% to 4,575.52 points. The technology Nasdaq strengthened by 185.60 points or 1.31% and closed at 14,354.90 points.

Of the 30 stocks that make up the Dow Jones industrial average, 16 closed with a positive sign and 14 with a negative. The biggest gain was recorded by Microsoft with gains of $ 7.02 or 2.31% at $ 310.70, followed by Salesforce at $ 215.28 with an increase of 2.01% and Walmart with gains of 1.78% at $ 146.00

On the other hand, the three stocks with the biggest losses were Chevron (-1.75%), Dow (-0.91%) and JPMorgan Chase (-0.74%).

Meanwhile, bond prices have recovered from losses that led the 10-year yield to climb more than 2.5%. At this time the yield at 10 years is losing 2 basis points at 2.45%. Last week, key Federal Reserve executives made public statements on the need for the central bank to tighten its policy this year to address the jump in inflation to a 40-year high. Most officials see another six interest rate hikes by the end of the year, with the hikes continuing into 2023.

At the end of the day, the US trade deficit in commodities fell slightly in February to $ 106.6 billion after two months of rising.