US stocks soar as oil prices plunge

US stock indexes rose in volatile trading on February 28. Oil prices fell on concerns stemming from the White House meeting.

Wall Street stocks rose in volatile trading on February 28, after briefly falling following a tense White House meeting with Ukrainian President Volodymyr Zelenskiy.

Oil prices fell on concerns stemming from the White House meeting, tariffs and Iraq's decision to resume exports from the Kurdistan region.

A public spat between US President Donald Trump and the Ukrainian President broke out in the Oval Office of the White House over a deal on the Russia-Ukraine conflict that sent markets tumbling.

The Brent crude contract, which expires on February 28, closed at $73.18 per barrel, down 1.16%. Meanwhile, the US West Texas Intermediate (WTI) crude contract ended at $69.76 per barrel, down 0.84%. Illustrative photo

The S&P 500 rose 1.59% to close at 5,954.50 points. The Nasdaq Composite rose 1.63% to 18,847.28 points, while the Dow Jones Industrial Average rose 1.39% to 43,840.91 points.

Trading volume on US exchanges was heavy, with 17.5 billion shares traded, compared with the 15.4 billion average for the previous 20 trading sessions.

European stock futures fell, with the Dax and CAC40 down 0.6%, while the Eurostoxx 50 index fell as much as 1.4%.

US Treasury yields fell to multi-month lows after a closely watched report by the US Federal Reserve showed annual inflation eased and consumer spending slowed last month.

The MSCI stock index tracking global stocks rose 5.69 points, or 0.66 percent, showing that US stocks had some growth, contributing to the increase.

Ukraine's dollar bonds fell on February 28. The 2034 bond fell more than a cent, with the last trading price at 59.04 cents per dollar, and is expected to gain in the month.

Earlier, Europe's STOXX 600 index ended flat.

The dollar index, which measures the value of the US dollar against six major currencies, rose 0.21% to 107.59.

The euro fell as much as 0.37% to a two-week low of $1.036, before recovering some ground to trade at $1.0366.

Emerging market stocks fell 28.01 points, or 2.49%.

The 12-month US personal consumption expenditures (PCE) index fell to 2.5% last month from 2.6% in December, according to US data. The core PCE index, the Fed's preferred inflation gauge, fell to 2.6% from a revised 2.9%. The US central bank (Fed) targets inflation at 2%. Both figures were in line with economists ' forecasts.

The yield on the two-year Treasury note, which typically moves in line with expectations for Fed interest rates, fell 8.9 basis points to 3.991%, from 4.08% late on Feb. 27. Spot gold fell 0.68% to $2,856.49 an ounce. U.S. gold futures fell 1.6% to close at $2,848.50.

Brent crude, which expires on February 28, closed at $73.18 a barrel, down 1.16%. Meanwhile, U.S. West Texas Intermediate (WTI) crude ended at $69.76 a barrel, down 0.84%.

The MSCI Asia ex- Japan Index fell 2.45 percent to close at 576.86 points, while Japan's Nikkei Index fell 1,100.67 points, or 2.88 percent, to 37,155.50 points.

US Treasury yields fell to multi-month lows after a closely watched report by the US Federal Reserve showed annual inflation eased and consumer spending slowed last month.

Source: https://congthuong.vn/chung-khoan-my-tang-vot-khi-gia-dau-lao-doc-376315.html