Stocks traded higher on Wednesday morning trade and Wall
Street added to its gains as markets expect better news in inflation, the
Russia-Ukraine war and other concerns have kept the investors unsettled for
weeks.

The S&P 500 rose 70.76 points or 1.66% to 4,332.88 as
of 11.16 am Eastern Time Zone. The Dow Jones Industrial Average jumped 377.37 points or
1.12% to 33,921 and the Nasdaq rose 358.28 points or 2.7% to 13,309.45.

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Technology stock saw some of the biggest jumps as
investors shifted funds into the sectors that are considered riskier.
Traditionally, safe investments, such as utilities and household goods manufacturers,
lagged the market.

The solid gains followed a strong jump for global
markets. Chinese stock markets surged overnight Beijing promised help for the
country’s struggling real estate sector and its internet companies. Hong Kong’s
benchmark Hang Seng jumped 9.1%.

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European stocks surged as Russia and Ukraine projected
optimism for another round of scheduled talks Wednesday.

US investors are anxiously awaiting this afternoon’s
Federal Reserve statement as the central bank tries to curb persistently high
inflation instead of maintaining ultra-low interest rates.

The Fed is expected to increase its key short-term rate
by 0.25 percentage points, which would be the first-rate increase since 2018.

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Ahead of the latest fed statement, Bond yields were
relatively higher.

Bond yields held relatively stable ahead of the latest
Fed statement. The yield on the 10-year Treasury surged to 2.17% from 2.15%
late Tuesday.

The Fed is attempting to slow the economy enough to curb
the high inflation seeping the country, but not so much as to induce a
recession. Central banks around the world are trying to halt the support they
poured into the global economy after the pandemic started. 

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Inflation in the US is running at its highest level in
four decades.

Commerce Department data shows Americans slowed their
expenditures on gadgets, home furnishings, and other discretionary items in
February due to higher prices for food, gasoline, and shelter.

Inflation and various other concerns have kept the
markets volatile over the last few weeks.

Stocks have been swinging sharply on a day to day,
sometimes hour to hour. Oil prices have mostly surged amid concerns that the
Russia-Ukraine conflict will disrupt energy markets.

Benchmark US crude oil prices rose 1.2% on Wednesday.