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US stocks rise on progress in Ukraine-Russia talks

Russia said it would scale down military activity around Kyiv following a "meaningful" dialogue in Istanbul, and Ukrainian negotiator David Arakhamia said there were now "sufficient" conditions for a direct meeting between Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin.

March 29, 2022 / 07:38 PM IST

Wall Street stocks jumped early Tuesday on signs of progress in peace talks between Ukraine and Russia as oil prices continued to retreat.

Russia said it would scale down military activity around Kyiv following a "meaningful" dialogue in Istanbul, and Ukrainian negotiator David Arakhamia said there were now "sufficient" conditions for a direct meeting between Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin.

The developments boosted hopes of a resolution to the more than month-long attack on Ukraine by Russia, which has prompted international condemnation and sanctions.

Oil prices -- which sprinted to multi-year peaks soon after the invasion on worries over lost Russian supply -- retreated again.