Wall Street's three major indexes close higher on Friday, March 18, boosted by recently battered technology stocks.
“If you think about where we could have been if Western governments had disallowed the use of frozen funds for coupon payments on Russian sovereign bonds, we would be sitting on a default of a world economy,” said Jamie Cox, managing partner at Harris Financial Group in Virginia.
European stocks closed higher as peace talks to end the Russia-Ukraine conflict continued amid heavy fighting.Wall Street’s three major indexes closed higher, boosted by recently battered technology stocks, after talks betweenover the Ukraine crisis ended without big surprises. “We’re in the middle of a relief rally after such a deep sell-off in tech in advance of the likely path of rates by the Fed. Now that they’ve basically removed all the uncertainty about rates, tech stocks can reprice,” Cox added.
US Treasury yields long-term edged down early as lack of a resolution of the Russia-Ukraine conflict weighed, while short-term yields increased, further flattening the curve.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
H&M sales soar but shares slip on wider Ukraine impact concernCredit Suisse analysts note that while Russia accounts for a small share of H&M's sales, the Ukraine crisis could result in a material effect on global disposable income and demand. RussiaUkraineCrisis
Read more »
Developers seen to benefit from 2022 real estate reboundHouse-and-lot developers are most likely to be benefit from the recovery of the real estate market, Security Bank Equities Inc. president Warren Sy said Thursday. Tap for more:
Read more »
Richer SEA Games gold haul expected for Sibol in VietnamOverall head coach Ralph 'Leathergoods' Llabres believes Sibol will surpass the Philippines' feat in the previous SEA Games, where it won three of the six esports gold medals up for grabs
Read more »
Ukraine's Zelensky says it is time for meaningful security talks with RussiaUkrainian President Volodymyr Zelensky on Saturday called for comprehensive peace talks with Moscow, saying Russia would otherwise need generations to recover from losses suffered during the war.
Read more »
Russia accuses Ukraine of trying to frame it over Mariupol theater attackThe Russian Foreign Ministry said on Thursday that a Ukrainian allegation that the Russian air force had bombed a theater in the Ukrainian port city of Mariupol was a lie and that the truth would emerge despite what it called attempts to frame Moscow.
Read more »
Stocks continue to recover after US rate hikeThe local stock market continued to recover lost ground as share prices rose across Asia.
Read more »