The three main stock indices of the US market finished their best weeks since November 2020. wall street rose, buoyed by big tech companies, whose battered shares soared after a talk about Ukraine between the American and Chinese presidents.
The president of United States, Joe Bidenhe warned his Chinese peer, Xi Jinping, during a phone call, that there would be “consequences” if Beijing gave material support to the Russian invasion of Ukraine, the White House reported. As reported, both sides stressed the need to find a diplomatic solution.
“The reading of the meeting was as expected,” Art Hogan, chief market strategist at National Securities in New York, said of the talks between Xi and Biden. He added that as talks between the Russian and Ukrainian governments continue, investors will continue to be optimistic.
The reference index S&P 500 gained 1.17% to 4,463.12 points, while the dow jones moved 0.80% to 34,754.93 points, and the nasdaq Tecnológico gained 2.05% to 13,893.84 points, pushed by high volatility, on the day of expiry of options and futures known as “quadruple witching day”.
The Nasdaq index concluded the week with an accumulated gain of 8.18%; the S&P 500 advanced 6.16%, and the Dow Jones accumulated 5.48 percent. The expectations about a prompt solution to the conflict between Russia and Ukraine have improved the mood in the markets, after knowing progress in the peace talks.
With information from Reuters