Dow Jones Continues To Rise Ahead of Ukraine Talks
Last week saw the Dow Jones 30 rise overall but it did struggle towards the end of the week as Ukrainian and pro-Russian forces resumed their fighting. It closed at 16638 on Friday having reached 16675 on Thursday.
Nonetheless, on Monday it immediately began rising again and reached a high of 16822 before closing at 16814.5. On Tuesday morning it had hit a high of 16854.
In general the Dow is on track for its best month since February. Already this month it has risen over 1.5%. Very few people predicted this upturn and some had even warned that a market drop of 10% might be coming.
The gains in the market came as European stocks continued their recent recovery. Both the Stoxx Europe 600 index and Germany’s Dax index have gained in recent days.
Much of this is due to the easing of tensions in the Ukraine and the meeting of foreign ministers from Germany, Russia, Ukraine and France for talks.
Later this week investors will focus on developments from Jackson Hole where bankers from around the world are due to meet on Thursday and on Friday Mario Draghi, the European Central Bank President, and Janet Yellen, the US Federal Reserve chair, will give talks.