The Wall Street market saw its major stocks in positive territory after suffering losses early in the session, with uncertainty over geopolitical tensions and Federal Reserve (Fed) policies impacting falling oil prices and driving demand for safe-haven assets.
The main index, Dow Jones Industrial saw a 0.29% gain after falling more than 1,000 points at the start of the New York session, while the S&P 500 was up 0.28% and the Nasdaq Composite was up 0.63%.
The MSCI worldwide index that tracks stocks of 45 other countries was down 0.78%.
According to a note released by JPMorgan analysts, gains recorded late in the Wall Street trading session marked a surprise recovery for U.S. stocks that recorded a sharp decline last week since 2020.
He added that the decline indirectly gave investors an opportunity to get the stock at a lower price and helped drive it back up at the end of the session.
Meanwhile, investors are focusing on the Federal Reserve (Fed) which will begin a 2 -day meeting and Fed officials are seen ready to pull back an unprecedented stimulus as well as start a rate hike.
According to Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, investors are beginning to be lazy and accept the reality of the Fed's simplistic monetary policy.
As a result, treasury yields declined with the benchmark 10 -year yield remaining at 1.75%.
The dollar index, which measures a number of other currencies, rose 0.26%.
In addition, the market was also turbulent with the Russia-Ukraine crisis when NATO said it would deploy troops in eastern Europe in addition to the US State Department has ordered family members of diplomats to leave Ukraine.
The spot price of gold rose 0.55% to $ 1,843.26 an ounce.
Brent crude oil price was down $ 1.62 or 1.8% at $ 86.27 a barrel while US West Texas Intermediate (WTI) crude oil price was down 2.2% or $ 1.83 at $ 83.31.
Bitcoin recorded a 6 -month low but still saw a slight increase at $ 36,921.
