|
Negotiators from both sides met for the first face-to-face talks
in nearly three weeks, with Kyiv seeking a ceasefire without
compromising on territory or sovereignty.
The conflict has driven up commodity and metal prices, adding to
a surge in inflation at a time when the U.S. Federal Reserve and
other major central banks begin to withdraw stimulus put in
place during the COVID-19 pandemic.
While all the three major U.S. indexes are on course to end
March higher, they are set to record their worst quarter since
the first three months of 2020 when the coronavirus pandemic
wreaked havoc on financial markets.
At 07:08 a.m. ET, Dow e-minis were up 142 points, or 0.41%, S&P
500 e-minis were up 18 points, or 0.39%, and Nasdaq 100 e-minis
were up 52 points, or 0.35%.
Still, strong economic data and gains in megacap stocks have
supported a recent recovery in U.S. stocks even as bond markets
flash signals of a possible recession, fueled by expectations of
rapid interest rate hikes by the Fed.
The spread between U.S. 2-year and 10-year Treasury yields
narrowed below six basis points, moving another step closer to
inversion, as traders bet that faster rate hikes would hurt the
U.S. economy over the longer term. [US/]
The S&P 500 rose for a third straight session on Monday, helped
by sharp jump in Tesla shares following its plans to seek
investor approval to increase its number of shares to enable a
stock split.
Tesla rose another 1.3% in premarket trading, while other
megacap companies like Meta Platforms Inc, Apple Inc, Amazon.com
Inc, Alphabet Inc and Microsoft Corp gained between 0.2% and
0.5%.
Wall Street's fear gauge, the CBOE Volatility index, slipped to
19.43 points, its lowest since mid-January.
Oil majors Exxon Mobil Corp and Chevron Corp rose almost 1% each
as crude prices rebounded on supply tightness, with major
producers showing no sign of being in a hurry to boost output.
[O/R]
FedEx Corp gained 2.6% after naming its operating chief, Raj
Subramaniam, as the chief executive officer, replacing the
global delivery conglomerate's founder Fred Smith.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Arun
Koyyur)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
