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March 5 – Ukrainian President Volodymyr Zelenskyy stated that the US-mediated peace talks between Russia and Ukraine, originally scheduled for this week, have been postponed indefinitely due to the Iran conflict. Zelenskyy said Wednesday evening local time, “Currently, due to the situation in Iran, the necessary signals for trilateral talks have not yet emerged. Once the security situation and the broader political environment allow us to resume trilateral diplomatic work, the relevant process will continue.” Zelenskyy had told reporters on Monday that the talks were originally scheduled for around March 5-6, which would be the fourth meeting between the two sides this year. Zelenskyy stated, “We are in contact with the United States almost every day,” adding that Kyiv is ready for new negotiations.On March 5th, Phillip Nova analyst Priyanka Sachdeva stated in a report that a stronger dollar is likely to continue putting pressure on gold prices. Despite the escalating conflict in the Middle East, the unexpectedly sharp rise in the dollar may have prompted some investors to take profits on gold. As energy prices rise, inflation concerns are resurfacing, while market expectations for fewer rate cuts by the Federal Reserve this year are also strengthening. She added that investors should consider factors such as the dollars performance, the pace of gold purchases by central banks, and whether the conflict in Iran will escalate further when allocating gold.On March 5th, Bei Chen Lin, Head of Investment Strategy for Canada at Russell Investments, stated in a report ahead of Fridays US non-farm payrolls data release that investors should consider the broader context when examining US employment data. "Job growth needs to be considered within the overall environment. With US population growth slowing to near standstill, even adding 60,000 jobs is still a healthy pace of growth." Analysts surveyed by The Wall Street Journal predicted that the US added 50,000 jobs in February, down from 130,000 in January. Lin added, "We believe a robust pace of job growth should be sufficient to stabilize the labor market and may even drive a hiring rebound in the second half of the year."On March 5th, Eastern Time, Bridgewater Associates founder Ray Dalio reiterated his strong bullish stance on gold. He stated that in the competition between gold and Bitcoin, there is a clear winner—gold. He emphasized that golds position is irreplaceable. Dalio recommends that individuals allocate 5% to 15% of their portfolios to gold to diversify risk during times of disaster.Iranian state media reported that explosions occurred in Tehran and Karaj.

As Chipmakers Climb, Wall Street Begins Its Uptrend, Driven by Nasdaq

Skylar Shaw

Mar 31, 2022 11:34

(Reuters) – NEW YORK On Thursday, major U.S. stock indexes rose more than 1%, extending the market's recent rally, as investors bought beaten-down shares of chipmakers and strong growth companies and oil prices fell.


The shares of Nvidia Corp. rose 9.8%, driving a rise in the chip sector and reaching its highest level since mid-January. Intel Corp rose 6.9%, helping the S&P 500 and the Nasdaq to gain ground.


The Philadelphia SE semiconductor index.SOX rose 5.1 percent, its highest daily percentage rise since Feb. 15, but it is still down around 10% for the year. After being battered earlier this month, Apple shares are up for the eighth day in a row.


Six of the last eight days have seen the three major indexes rally, with all three rebounding after the S&P 500 and Dow both confirmed that they are in corrections, while the Nasdaq confirmed that it is in a bear market.


"The bear market was the best time to invest," said Jake Dollarhide, CEO of Tulsa, Oklahoma-based Longbow Asset Management, which manages roughly $50 million in assets. "At long last, people realized this is an excellent place to start."


He stated, "For the first time in a long time, they are recognizing greater value in technology."

After a big rise on Wednesday, oil prices have dropped. 


The number of Americans submitting new unemployment claims fell to a 52-1/2-year low last week, but unemployment rolls continued to fall, according to previous data.


The Dow Jones Industrial Average increased 349.44 points, or 1.02 percent, to 34,707.94, the S&P 500 increased 63.92 points, or 1.43 percent, to 4,520.16, and the Nasdaq Composite increased 269.24 points, or 1.93 percent, to 14,191.84.


The next steps in the Ukraine-Russia situation were closely monitored by investors. Western countries have decided to boost military aid to Ukraine while tightening sanctions on Russia, whose invasion of its neighbor has now reached its second month.


Uber Technologies Inc rose 5% after the ride-hailing company announced that it had achieved an agreement to list all cabs in New York City on its app.


The volume on US exchanges was relatively low, with 11.03 billion shares, compared to the 14.3 billion average for the prior 20 trading days.


On the New York Stock Exchange, advancers outweighed decliners 1.96 to 1; on the Nasdaq, advancers outnumbered decliners 2.03 to 1.


The S&P 500 index saw 29 new 52-week highs and four new lows, while the Nasdaq Composite saw 58 new highs and 60 new lows.


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