A positive impact of the Biden-Xi Jin call on stock exchange
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| US Stock Exchange |
Since it was announced that there were talks between US President Joe Biden and Chinese President Xi Jinping, optimism has been observed among investors in US stock indexes.
The three major indices on Wall Street closed higher after trading on Friday, March 18th, boosted by technology stocks that had been hit recently, and here are the indices' closings:
- The Standard & Poor's Index rose 51.88 points, equivalent to 1.18%, and closed at 4,463 points.
- The Nasdaq Composite Index rose by 275 points, which is equivalent to 2.02%, and closed at 13889 points.
- The Dow Jones Industrial Average rose 256.26 points, or 0.74%, and closed at 34,737 points.
It was announced before the start of the call that the dialogue between Baden and Xi would revolve around the Russian-Ukrainian crisis, ensuring that world peace would prevail and avoiding open wars.
The market also absorbed the news of the interest rate hike by the Federal Reserve, which pledged that there would be a continuous increase in interest rates in the coming months, in order to counter inflation.
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