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Wall Street surges on Ukraine peace talks, looming Fed rate hike

Big banks rise in anticipation of interest rate hike; China ADRs surge on Beijing's move to support markets

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Traders work at the New York Stock Exchange (NYSE) in Manhattan, New York City (Photo: Reuters)

Reuters
Wall Street's main indexes jumped on Wednesday, propelled by technology and financial stocks, as signs of progress in Ukraine-Russia peace talks lifted sentiment ahead of a widely expected interest rate hike by the Federal Reserve.

New talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.

Nine of the 11 major S&P sectors advanced, with financials , technology and consumer discretionary
shares - which largely endured the selloff this year - each climbing over 2.3%.

Megacap names Apple Inc and Microsoft Corp rose 1.8% and

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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