Dow futures rise on optimism surrounding Russia and Ukraine talks

U.S. stock futures rose Tuesday, buoyed by optimism over negotiations between Russia and Ukraine.

What’s happening
  • Futures on the Dow Jones Industrial Average YM00, +0.79% rose 217 points, or 0.6%, to 35070
  • Futures on the S&P 500 ES00, +0.86% gained 0.6%, or 29 points, to 4597
  • Futures on the Nasdaq 100 NQ00, +1.18% rose 115 points, or 0.8%, to 15100

On Monday, the Dow Jones Industrial Average DJIA, +0.27% rose 95 points, or 0.27%, to 34956, the S&P 500 SPX, +0.71% increased 32 points, or 0.71%, to 4576, and the Nasdaq Composite COMP, +1.31% gained 186 points, or 1.31%, to 14355. The S&P 500 has gained ground for eight of the last 10 trading days.

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What’s driving markets

The first face-to-face talks between Russia and Ukraine in two weeks were held in Turkey on Tuesday. The Russian news agency Interfax quoted Russia’s lead negotiator as saying progress was made during the talks.

“A sense of positivity returned to financial markets as the prospects of more ceasefire talks between Russia and Ukraine soothed investor jitters,” said Lukman Otunuga, senior research analyst at FXTM.

The dollar USDRUB, -9.47% plunged against the ruble, and oil prices CL.1, -5.21% dropped, as reports began to emerge after the day’s meetings.

The U.S. threatened further sanctions against Russia, in a speech from Deputy Treasury Secretary Wally Adeyemo delivered in London.

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The other major development for the world economy is in China, as a two-phased lockdown of the financial capital Shanghai entered the second day.

The U.S. economics calendar includes releases on consumer confidence and job openings.

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