After retreating on Thursday due to Russia’s invasion of Ukraine, U.S. stock markets rebounded sharply today as bargain-hunters bought in and investors cheered news of possible diplomatic talks.While the stunning act of military aggression continues to cast a pall over the economies of much of the West, the week closed out on an upbeat note.
The Dow Jones Industrial Average, Nasdaq and S&P 500 gained between 1.6% and 2.5% on the day, with the Dow registering its biggest jump in percentage terms since November 2020.
In the media sector, notable gainers included Fox Corp., AT&T, Roku, Comcast and Dish Network. There were no major decliners, though shares in both Disney and Netflix finished essentially flat.The Dow rose 834.92 points, up 2.5%, to close at 34,058.75, while the Nasdaq gained 1.6% and the S&P tacked on 2.25%.Russian President Vladimir Putin and other Kremlin officials have agreed to meet with their counterparts from the Ukraine for talks in neighboring Belarus.
Tensions remain high, of course, and Putin has continued publicly insulting Ukrainian President Volodymyr Zelensky and the Russians have spread baseless propaganda about the Ukrainians engaging in genocide.
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