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Wall St closes higher after Biden-Xi talks end, oil steadies - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Wall Street’s three major indexes closed higher on Friday, boosted by recently battered technology stocks, after talks between US President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.

The Dow Jones Industrial Average rose 256.26 points, or 0.74%, to 34,737.02.

“The read out from the meeting was as expected,” said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks.“Regarding Russia, Ukraine, the market has been more positive on news from the diplomatic front than negative on the escalation.”“Instead of having fears and trepidation of what the Fed might do we have clear road map for monetary policy,” Hogan said.

“Does the market like oil around $100? No. But is it happier that it’s around $100 than going up $20 every day? Of course.”

 

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