Personal finance live updates: Social Security payments, Child Tax Credit, tax refund deposit date, inflation, gas prices...

Personal finance live updates: Social Security payments, Child Tax Credit, tax refund deposit date, inflation, gas prices…

S&P 500, Dow rise with focus on Russia-Ukraine peace talks, Fed

Gains in financial and healthcare shares bolstered the Dow and the S&P 500 index on Mondayas investors pinned their hopes on Russia-Ukraine peace talks, while shifting their focus to the upcoming Federal Reserve policy meeting.

The conflict has roiled global financial markets and fueled concerns about runaway inflation as prices of oil and other commodities skyrocket in the face of tough Western sanctions against Russia.

Talks between Ukraine and Russia paused on Monday and will continue on Tuesday, one of Kyiv’s negotiators said on Twitter.

Ukraine had begun “hard” talks with Russia on a ceasefireimmediate withdrawal of troops and security guarantees, despite the fatal shelling of a residential building in Kyiv.

“We clearly have done a lot of multiple contraction across the board. You have this market that’s going to continue to be held hostage by the headlines coming out of Russia-Ukraine,” said Art Hogan, chief market strategist at National Securities.

Energy prices have pulled back a bit and that helps mitigate some of the inflation fears. The Federal Reserve is likely to have that first rate increase and getting that behind us will likely be a positive but that’s not until Wednesday.”

At 11:43 am ET, the Dow Jones Industrial Average was up 240.53 pointsor 0.73%, at 33,184.72, the S&P 500 was up 4.40 pointsor 0.10%, at 4,208.71, and the Nasdaq Composite was down 114.83 pointsor 0.89%, at 12,728.98.

Leave a Comment

Your email address will not be published.