The Dow jumped more than 400 points, nearing the 34,000 mark today, with Wall Street rallying from yesterday.
As of 8:39 p.m. Thai time, the Dow Jones Industrial Average stood at 33,950.83, up 406.49, or 1.21%.
Share prices rose in all segments. led by the banking group
The Dow closed up nearly 600 points yesterday, bolstered by investor concerns regarding inflation. After oil prices fell below $100/barrel. and the US Producer Price Index (PPI) grew lower than expected.
The market was also positively affected by progress in peace talks between Russia and Ukraine.
Ukrainian President Volodymyr Zelensky and Russian Foreign Minister Sergei Lavrov They signaled progress in peace negotiations.
“An agreement with Russia to end the war in Ukraine is getting closer to reality,” Zelensky said.
“We all want peace. And yet efforts were needed to end the war. Our negotiating representative requires patience and hard work.”
“This is difficult. but important because of any war It must end with making an agreement. The meeting will continue. And I’ve heard that the negotiating stance is getting closer to the truth. But we still need time to make decisions in the interests of Ukraine,” Zelensky said.
President Zelensky’s statement was consistent with Russian Foreign Minister Sergei Lavrov. which expressed hope for peace talks between Russia and Ukraine
“I see hope that Russia and Ukraine can compromise in the peace talks,” Lavrov said.
“There are serious discussions on the issue of Ukraine becoming a neutral country. including other security issues Both sides are nearing an agreement on some formulas,” he said.
A fourth round of peace talks between Ukraine and Russia will continue for a third day today, following two days of talks had ended without a conclusion.
Meanwhile, investors are eyeing the outcome of the Federal Reserve’s (Fed) monetary policy meeting today, its second meeting this year.
Fed Chairman Jerome Powell has signaled that the Fed will raise interest rates by 0.25% this month, not as severe as some analysts had expected a 0.50% increase.
If the Fed raises interest rates this week as expected. It will be the Fed’s first rate hike since 2018.
The disclosure of US economic numbers today. The US Commerce Department said Retail sales rose just 0.3% in February month-over-month. Below analysts expected a 0.4% increase.
The lower-than-expected retail sales were hit by a 3.7 percent drop in online retail sales.
However, the Commerce Department revised its retail sales in January to a 4.9 percent jump from previously reported 3.8 percent.
year on year Retail sales jumped 17.6 percent in February, helped by sales of gasoline at gas stations.