The US stock market surged Friday, led by an 800-point surge from the Dow Jones Industrial Average.
Moscow said it would be open to talks with the Ukrainian leadership, even as Russian forces closed in on Kyiv and air raids intensified. Wall Street is concerned that the Federal Reserve may be less aggressive in hiking rates.
US stocks are rising as Wall Street expects central bank reluctance to go overly aggressive with tightening monetary policy, so they can provide a cushion for a growth hit that will stem the Russia-Ukraine developments. He said that stock market volatility will continue.
The US and its allies continued to impose sanctions on the Kremlin. According to reports, the White House is joining the EU in freezing Putin's assets. European officials are willing to ban Russian from the Swift global financial network.
The market closed at 4 p.m. Friday:
Bank of America advised investors to sell into any rally in the market as three-quarters of the Nasdaq is in bear-market territory.
The asset management firm gave guidance on how investors can navigate risk in the stock market while still making money.
US stocks will rally by the end of 2022, according to analysts at Royal Bank of Canada.
Sam Bankman-Fried, CEO of FTX, announced that the exchange gave $25 to every Ukrainian user.
Western sanctions on Russia have not affected the energy industry. The price of West Texas Intermediate crude dropped by more than 1%. The international benchmark for crude fell 0.8% to $98.28 a barrel.
The price of gold was 1,891.72 per ounce. The yield on the 10-year bond was 1.96%.
There was a 1.12% increase in the price of Bitcoin.
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