US Equities Markets End Higher Friday as Markets Shrug Off Heated Exchange in Oval Office

MT Newswires Live
01 Mar

US benchmark equity indexes ended higher Friday even after President Donald Trump's meeting with his Ukrainian counterpart, Volodymyr Zelenskyy, ended in a heated argument between the two sides.

* Zelenskyy left the White House Friday after talks with Trump collapsed, CNBC reported. The US wants access to Ukraine's rare earth minerals as part of a broader effort to end the conflict between Ukraine and Russia.

"Much was learned that could never be understood without conversation under such fire and pressure," Trump said in a Truth Social post. "I have determined that President Zelenskyy is not ready for peace if America is involved, because he feels our involvement gives him a big advantage in negotiations."

* The Federal Reserve's preferred core measure, which excludes food and energy, decelerated to 2.6% in January from 2.9% the month before. Sequentially, the core measure accelerated to a 0.3% gain. Both figures were in line with analysts' expectations.

"Broadly speaking, US households remain in good financial shape, supported by a still-healthy labor market and a significant wealth cushion," TD Economics said. "As long as this remains the case, we expect real consumer spending to stay resilient this year, with growth moderating to around 2%."

* April West Texas Intermediate crude oil closed down $0.33 to settle at $70.02 per barrel, while April Brent crude, the global benchmark, was last seen down $0.86 to $73.18 amid market uncertainty over the impact of U.S. President Donald Trump's decision to impose a 10% tariff on oil and gas imports from Canada, its largest supplier, while tightening sanctions on Venezuela and Iran.

* AES (AES) shares were up over 11% as the company outlined an upbeat full-year earnings outlook following a quarterly beat.

* Dell Technologies (DELL) shares sank nearly 5%. The computer maker late Thursday logged stronger-than-expected fiscal Q4 earnings, though its revenue fell short of Wall Street's estimates.

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