The U.S. stock indexes gained ground on Monday, with gains in financial and healthcare shares lead the way, with investors paying attention to the Russia-Ukraine crisis and the Federal Reserve's policy meeting.
As in the wake of Western sanctions targeting Russia, a major supplier of commodities, oil prices skyrocketed following the conflict and hammered global financial markets.
One of Ukraine's negotiators said on Twitter on Monday that the talks between Ukraine and Russia will resume on Tuesday.
Although a residential building in Kiev was shelled, Kiev began "hard" talks with Moscow about a ceasefire, a troop withdrawal, and security guarantees.
It's important to keep in mind that Russia and Ukraine are going to talk. Great Hill Capital chairman and managing member Thomas Hayes called that a positive.
Bank of America rose 3.3 percent, leading gains among big Wall Street banks, while the broader banks index added 2.2 percent.
As a result of surging inflation, many investors expect the Fed to announce its first rate increase since 2018 at its meeting on March 15–16. This week, traders predict a 25-basis-point hike.
A week after it scaled as high as $139 due to the Ukraine crisis, Brent crude fell below $110 a barrel, sending energy shares lower, including Occidental Petroleum down 6.4 percent.
14 March 2022
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