Market Pulse: Dow industrials rise to start week as investors brace for 1st rate hike since 2018, amid Russia-Ukraine war
The Dow industrials and the S&P 500 index traded higher on Monday, but the Nasdaq Composite was seeing more muted action early, as investors awaited a policy decision from the Federal Reserve that is expected to yield the first increase to benchmark interest rates since 2018 to combat out-of-control inflation.
The military conflict in Eastern Europe, which began Feb. 24, remains under way but markets were trying to take a positive tilt as Ukrainian and Russia officials stage a fourth round of talks to resolve the deadly clash.
The Dow Jones Industrial Average
gained 219 points, or 0.7%, to 33,160.
The S&P 500 index
advanced 16 points, or 0.4%, to 4,218.
The Nasdaq Composite Index
gave up 25 points, or 0.2%, to trade at 12,813.
The 10-year Treasury note
yields 2.09%, around its highest rate since July 2019.
On top of concerns about monetary policy and hostilities emanating out of Europe, China’s Shanghai Composite Index
tumbled, as Shenzhen went into lockdown to contain a fresh COVID outbreak.