Stocks Gain as War Spurs Pullback on Fed Rate Bets: Markets Wrap
- Russia says it’s willing to hold negotiations with Ukraine
- Dollar, gold retreat as haven demand flags; Bonds steady
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U.S. equities rose for a second day as economic data and uncertainty due to Russia’s war in Ukraine caused traders to pull back on bets the Federal Reserve will aggressively hike interest rates next month.
The S&P 500 advanced, with eight of the 11 sectors jumping more than 2%. Meanwhile, gains in the tech-heavy Nasdaq 100 lagged as geopolitical tensions continued to weighed on richly-valued technology shares.