Markets rebounded on Friday amid reports that Russia may be willing to negotiate with Ukraine.
The stock market jumped on Friday, with the Dow surging nearly 800 points—on track for its best day so far in 2022—amid reports that Russia is open to negotiating with Ukraine, even as Russian troops close in on the capital city of Kyiv and Ukraine has not yet agreed to meet for talks. All eleven sectors of the S&P 500 moved higher on Friday, with financials, materials and consumer staples leading the benchmark index’s gains. The market is staging a “very strong rally” with big outperformance in value and cyclical stocks, as “investors welcome headlines about possible Russia-Ukraine negotiations in Minsk (along with reports that Moscow’s assault on the country isn’t going nearly as well as Putin hoped),” according to Vital Knowledge founder Adam Crisafulli.
