News from NATO and the United States (US) about Russia re -adding its troops in Ukraine caused oil and gold to rebound.
Moreover, the less hawkish tone by the Federal Reserve (Fed) translated in the minutes of the FOMC meeting earlier this morning caused the Wall Street market to close flat.
Stocks Withdraw From 'Green' Region
Ingalls & Snyder’s senior portfolio strategist, Tim Ghriskey, argues that readings of Fed meeting minutes sound less hawkish, less aggressive about rate hikes and a little more prone to dovish.
The Dow Jones Industrial average index was down 0.16%, the S&P 500 was up 0.09%and the Nasdaq Composite was down 0.11%.
MSCI’s worldwide stock gauge posted a gain of 0.32% while the market index rose 1.23%.
News of the Russian-Ukrainian crisis returning to concern caused the pan-European STOXX 600 index to cut gains by 0.04%.
U.S. treasury yields and European zone government bonds extended the decline, with 10 -year treasury yield notes down 0.5 basis points at 2.040% while 2 -year treasury yields fell 3.4 basis points at 1.535%.
The dollar index was down 0.215% while the Euro was up 0.18% at $ 1.1376.
Geopolitical crisis spurs commodities
According to reports, NATO is skeptical of Russia’s willingness to hold talks by claiming Russia is adding its troops in Ukraine’s East-West region.
As a result, US Secretary of State Antony Blinken stated a survey of rising gold and oil prices.
US crude futures rose $ 1.59 at $ 93.66 a barrel while Brent oil added $ 1.53 at $ 94.81 a barrel.
Spot gold jumped 0.8% at $ 1,867.51 while gold futures declined 0.8% at $ 1,871.50.
