By Market Pulse: Dow industrials rise to start week as investors brace for 1st rate hike since 2018, amid Russia-Ukraine war
The Dow industrials and the S&P 500 index traded higher on Monday, but the Nasdaq Composite was seeing more muted action early, as investors awaited a policy decision from the Federal Reserve that is expected to yield the first increase to benchmark interest rates since 2018 to combat out-of-control inflation.
The military conflict in Eastern Europe, which began Feb. 24, remains under way but markets were trying to take a positive tilt as Ukrainian and Russia officials stage a fourth round of talks to resolve the deadly clash.
The Dow Jones Industrial Average
DJIA,
+0.40%
gained 219 points, or 0.7%, to 33,160.
The S&P 500 index
SPX,
+0.06%
advanced 16 points, or 0.4%, to 4,218.
The Nasdaq Composite Index
COMP,
-0.52%
gave up 25 points, or 0.2%, to trade at 12,813.
The 10-year Treasury note
TMUBMUSD10Y,
2.095%
yields 2.09%, around its highest rate since July 2019.
On top of concerns about monetary policy and hostilities emanating out of Europe, China’s Shanghai Composite Index
SHCOMP,
-2.60%
tumbled, as Shenzhen went into lockdown to contain a fresh COVID outbreak.
