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S&P 500 + 0.32%, Nasdaq drops 0.22% (RockedBuzz Radiocor Plus) – New York, March 14 – Contrasted opening on Wall Street. This week, the focus will naturally be on Russia and the Federal Reserve as well. The latest round of talks between the delegations of Ukraine and Russia is underway: the confrontation “is difficult, but the negotiations are continuing”, commented Kiev. Meanwhile, China has denied having received a request for military assistance from Moscow. Talks are underway in Rome between White House National Security Advisor Jake Sullivan and Chinese diplomat Yang Jiechi, director of the Office of China’s Central Foreign Affairs Commission. The goal is to “keep a line of communication open between the US and China” in this phase of crisis. The Ukrainian president, Volodymyr Zelensky, has meanwhile asked his US counterpart, Joe Biden, for further sanctions against Russia during their latest phone call, according to CNN. Turning to the Fed, the first interest rate hike since 2018 is expected on Wednesday; it will probably be ‘only’ 25 basis points, due to the uncertainties brought about by the Russian invasion. Meanwhile, the volatility of the oil price continues, today down by 4.59% to 104.31 dollars a barrel, and the increase in Treasury bond yields, with that of the 10-year at 2.08%, the most ‘high since July 2019.
On Friday, the Dow Jones closed negative for the fifth consecutive week and is correcting (losing more than 10% from its recent peak); for the S&P 500 and the Nasdaq Composite, last week was the fourth consecutive week in decline: the S&P 500 is in correction, the Nasdaq loses more than 20% from the December record. Today, after the first few minutes of trading, the Dow gains 200.15 points (+ 0.61%), the S&P 500 rises by 13.54 points (+ 0.32%), the Nasdaq drops 28.53 points (- 0.22%).
(RADIOCOR) 14-03-22 14:39:47 (0372) NEWS, ENE, PA, ASS 3 NNNN