Stocks in the US markets are back on the rise on Friday,
as investors look for signs of peace in Ukraine amid concerns about the war’s
impact on inflation and the economy.

The S&P 500 was trading 0.6% higher in morning trade,
a day after posting its fifth loss in the last six days. European stocks were
also trading higher, while crude oil prices were adding more gains after rising
in recent weeks.

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Early Friday, before Wall Street opened for trading,
European stocks and U.S. stock futures moved sharply upward, and some analysts
pointed to comments from Russian President Vladimir Putin that were seen as
surprisingly optimistic. Putin mentioned “certain positive
developments” in the Ukraine negotiations, but did not provide any
details.

The Dow Jones Industrial Average was 154 points or 0.47%
higher at 33,328, as of 10.30 am Eastern time zone. The Nasdaq composite was 0.5%
higher. All indexes remain down for the week, even though the S&P 500
surged in the middle of it to its highest day since the summer of 2020.

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In recent weeks, markets have been highly volatile, not
just day to day but hour to hour has investor struggle to predict how high the
Russia’s war in Ukraine will push prices for oil, wheat and other commodities
where the region is a major producer. Hence, the economy may be heading for a
toxic combination of persistently high inflation and stagnant growth.

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Markets remain uncertain despite Putin’s statements,
which mean price swings are likely to persist. President Joe Biden will
announce Friday that the US will move to remove Russia’s “most favored
nation” trade status. Other major economies are likely to do the same,
which would allow for tariffs on Russian imports.

The U.S. stock market remains about 10% below its peak
from earlier this year, while crude oil prices are still over 40% higher so far
in 2022 than they were earlier this year.

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On Friday, US crude oil rose to 1.2% to $107.30 per
barrel after swinging between gains and losses earlier in the morning. It
briefly topped $130 earlier this week.

Brent crude, the international standard, rose 1.4% to
$110.91 per barrel.