At the close of trade, the Dow Jones Industrial Average index advanced by 338.30 points, or 0.97%, to 35,294.19. The S&P500 index grew by 56.08 points, or 1.23%, to 4,631.60. The tech-heavy Nasdaq Composite Index was up 264.73 points, or 1.84%, to 14,619.64.
Advancing stocks outnumbered declining ones on the NYSE exchange by 2744 to 641 and 141 closed unchanged. In the NASDAQ, 3651 issues advanced, 1225 issues declined, and 253 issues unchanged.
Total 10 of 11 major S&P 500 sector indexes inclined, with top performing sector were real estate (up 2.85%), information technology (up 2.06%), consumer discretionary (up 1.54%), communication services 9up 1.4%), and industrials (up 0.9%), while bottom performing issue included energy (down 0.44%).
Reports about encouraging progress in the cease-fire talks between Russia and Ukraine in Turkey helped lift investor sentiment. Russia pledged to cut down on military operations around Kyiv and in northern Ukraine, while Ukraine proposed adopting a neutral status, the first sign of progress toward peace in weeks.
The tentative progress contributed to a fall in prices of oil and other commodities, helping calm concerns about rising inflation and the path of monetary policy by the Federal Reserve, which has started to raise interest rates to combat rising prices.
In company news, Nielsen shares soared by 21%, after it agreed to be acquired by a private equity group in a $16 billion buyout deal.
Boeing shares jumped 3%, after it named Ted Colbert as CEO and president of its defense, space and security business. Stephanie Pope, CFO of Boeing Commercial Airplanes, has been appointed CEO and president of Boeing Global Services to replace Colbert.
FedEx Corp gained 2.99% after the global delivery conglomerate named operating chief Raj Subramaniam as its top boss.
In economic news, the Conference Board's measure of consumer confidence rose to 107.2 in March from 105.7 in February.
A report from the Labor Department showed the number of job openings in the United States was 11.266 million in February of 2022, little changed from an upwardly revised 11.283 million in January.
Among Indian ADR, HDFC Bank added 2.57% to $61.82, WNS Holdings added 3.87% to $87.47, Dr Reddy's Labs added 2.9% to $56.83, and INFOSYS added 1.58% to $25.11. ICICI Bank added 1.83% to $18.90, Wipro added 1.52% to $8.04, Tata Motors grew 2.14% to $29.15, and Azure Power Global added 3.16% to $19.28.
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