S&P 500 Advances 0.9% On Early Trading Amid Milder Risk-on

Wall Street advances on Monday amid an improved market sentiment. Hopes of progress in the Ukraine-Russia talks have lifted appetite for risk. Banks are leading gains as major central banks hint to higher rates.

US markets have opened the week on a moderately positive tone, following the trend observed in Europe. Investors’ hopes about progress in the peace talks between Russia and Ukraine seem to have boosted hopes of a cease fire, triggering a certain risk-appetite revival.

The S&P 500 is trading 0.90% up one hour after the opening bell. Stock markets are welcoming the efforts to stop the Eastern European conflict after high representatives from both parties expressed their confidence on achieving some results over the coming days.

Market sentiment, however, remains fragile as Russia keeps shelling Ukrainian cities, with the world holding its breath when a Russian missile attack hit a military compound only 25 Km away from the NATO border.

Furthermore, the Dow Jones Index appreciates 1.25% at the moment of writing, while the Nasdaq Technical Index edges o.33% up after a hesitant opening.

Regarding sectors, financials are leading gains on Monday, advancing 2,71% buoyed by rate hike hopes in most of the major central banks. On the negative side, the energy sector drops 2,5% with oil prices dropping sharply on the back of the Ukraine – Russia peace talks and the increase of COVID-19 cases in China.