Wall Street indexes are on a strong recovery trajectory after a four-day losing streak on Wednesday, amid hopes for a diplomatic solution that would de-escalate the conflict in Ukraine.
In particular, on the board, the Dow Jones industrial average recorded a “jump” of over 650 points, adding 2.01% and moving to 33,289.51 points, the broader S&P 500 recorded gains of 2.17% to 4,261 points, while the technology Nasdaq increased by 2.68% to 13,138.45 points.
The upward reaction comes after the “dip” of the market, which has so far led the week almost 4% lower than the S&P 500.
Climate change in international markets today is fueled by hopes of de-escalating the Russian-Ukrainian crisis, which has been growing since Moscow and Kyiv agreed on a temporary ceasefire and the opening of humanitarian corridors for the evacuation of civilians from Russian-occupied territories.
Hopes were also heightened by the announcement of a meeting of Russian and Ukrainian Foreign Ministers in Turkey tomorrow, Thursday, as well as today’s reports that Ukrainian President Volodymyr Zelensky has stated that the country is no longer pushing for NATO membership, which was also the main Russia’s excuse for the invasion.
The possibility of a diplomatic solution was exacerbated by a statement from the Russian Foreign Ministry spokeswoman that Russia would prefer to secure a neutral status in Ukraine through talks, adding that Moscow’s goals did not include overthrowing the Kiev government. Mariz Zakharova even stated that “we hope to make more significant progress in the next round of talks with Ukraine.”
The shift of investors to equity values ​​is reinforced by the positive climate prevailing in the international markets, as well as the de-escalation of price increases in energy and commodity prices.
US WTI crude is down 4% at $ 117 a barrel, having previously surpassed even $ 126 a barrel, while Brent crude is hovering at $ 126.5, having climbed to $ 131.6 earlier. .
Source: Capital
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