The prices of oil and wheat fell on Wednesday for a third day largely as a result of positive progress in the talks between Russia and Ukraine. U.S. stocks traded higher on comments from Federal Reserve Chair Jerome Powell about the economic outlook after the Fed hiked interest rates for the first time since 2018.
Ukrainian President Volodymyr Zelenskiy earlier on Wednesday appealed to the Congress for more weapons from the US and more sanctions to Russia.
According to Bloomberg, Zelenskiy’s biggest requests — a no-fly zone over Ukraine or the transfer of fighter jets from NATO countries, neither of which the US Government has agreed to.
Biden called Putin a “war criminal” on Wednesday, shortly after announcing an expansive new package of military aide to Ukraine. The new package is worth $800 million and includes drones, 800 anti-aircraft systems, 9,000 shoulder-mounted missiles for Ukraine to attack Russian armored vehicles, 7,000 small arms, pilotless aircraft and 20 million rounds of ammunition.
Kremlin spokesman Dmitry Peskov said Wednesday that the idea of Ukraine becoming a neutral country but retaining its own armed forces “could be viewed as a certain kind of compromise,” according to media reports.
US Stocks, Chinese Stocks listed in US
US stocks extended gains as the benchmark S&P 500 closing 1.55% higher as the Nasdaq 100 rose 3.7% while the Dow rose 1.5%.
Shares of Chinese companies listed in the United States surged at the open on Wednesday after China’s top officials said they “continue to support various types of companies to list overseas.”
Chinese and American regulatory agencies “have maintained good communication and have made positive progress, and are working on forming a specific cooperation plan” on the topic of US-listed Chinese stocks, the Chinese media cited a government statement released on Wednesday. In addition, the authorities stated that strengthening “communication and cooperation” is needed for Hong Kong’s financial market. “Regarding real estate enterprises, it is necessary to timely study and propose effective and effective response plans to prevent and defuse risks, and propose supporting measures for the transition to a new development model,” it was said in the document.
Pinduoduo Inc., Alibaba soared almost 40%, JD.com Inc. grew over 25% during the day’s trading session.
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