Market Pulse: Dow industrials rise to start week as investors brace for 1st rate hike since 2018, amid Russia-Ukraine war

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The Dow industrials and the S&P 500 index traded higher on Monday, but the Nasdaq Composite was seeing more muted action early, as investors awaited a policy decision from the Federal Reserve that is expected to yield the first increase to benchmark interest rates since 2018 to combat out-of-control inflation.

The military conflict in Eastern Europe, which began Feb. 24, remains under way but markets were trying to take a positive tilt as Ukrainian and Russia officials stage a fourth round of talks to resolve the deadly clash.

The Dow Jones Industrial Average
DJIA,
+0.40%

gained 219 points, or 0.7%, to 33,160.

The S&P 500 index
SPX,
+0.06%

advanced 16 points, or 0.4%, to 4,218.

The Nasdaq Composite Index
COMP,
-0.52%

gave up 25 points, or 0.2%, to trade at 12,813.

The 10-year Treasury note
TMUBMUSD10Y,
2.095%

yields 2.09%, around its highest rate since July 2019.

On top of concerns about monetary policy and hostilities emanating out of Europe, China’s Shanghai Composite Index
SHCOMP,
-2.60%

tumbled, as Shenzhen went into lockdown to contain a fresh COVID outbreak.

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