Most global indices rose Monday as investors looked to progress in diplomatic talks between Russia and Ukraine and await rate hike announcements by central banks later this week.
The futures on the S&P 500 rose 0.6%, while the futures on the Dow Jones rose 0.8%. The start of trading later in the day is suggested by the exchange.
Russian and Ukrainian officials gave their most positive assessment of the talks on Sunday.
Ukraine is willing to negotiate, but not surrender, or accept ultimatums. Slutsky said he expects written agreements in the coming days.
Wendy Sherman said that Russia was showing signs of willingness to engage in substantive negotiations.
US officials said that Russia has asked China for military assistance and economic aid to help with its invasion.
The bombing of a military base that killed at least 35 people in Western Ukraine on Sunday is just a few miles from the Polish border, and it shows how close the war is to NATO nations. There are fresh worries that a wider escalation is still possible.
At a high-level meeting in Rome on Monday, the US is expected to convince China not to supply arms to Russia.
The Federal Reserve is expected to raise rates for the first time in over a year on Tuesday and Wednesday, in a big week for central banks.
The Fed is expected to raise the rate by 25 basis points to fight inflation, which came in at 7.9% in February.
Analysts thought a 50-basis point hike was likely this week.
The problem is that they may have to do more later if they delay such a move.
In the US and Britain, investors are pricing in between six and seven rate hikes this year, due to the war in Ukraine.
The Bank of England is expected to raise rates for the third time in a row on Thursday.
The London's FTSE 100 rose. The Euro Stoxx 600 rose 0.9% and the DAX added 2.5%.
Asian equities were mostly lower. The Hang Seng lost 4.9% and was led by losses in the Hong Kong-listed shares of Chinese companies. Shenzhen entered a week-long lock-down to slow an outbreak of Covid-19.
Major manufacturers like Apple suppliers and Toyota are cutting output.
The Bank of Japan is expected to remain dovish at its policy meet this week. The Tokyo stock market added 0.5%.
As traders looked towards the diplomatic efforts in Russia and Ukraine, the price of crude dipped below $110 a barrel.
West Texas Intermediate fell 4.1% to $104.86 a barrel, while the price ofBrent crude fell 3.3% to $108.85 a barrel.
A leading commodities analyst predicts that oil will double by summer and that the stock market will plunge.
All Rights Reserved © 2024
