Market Optimism Ahead of Key Economic Indicators

As negotiations between the United States and Russia commenced in Riyadh, aiming for a potential ceasefire in Ukraine, Wall Street experienced a notable uptick in premarket trading this Monday. Investors are keenly awaiting the release of the S&P Global Composite Purchasing Managers Index (PMI), which is expected to shed light on the private-business activity within the US.

Significant Gains Across Major Indices

By 4:28 am ET, the Dow Jones Industrial Average had climbed by 0.80%, showcasing a strong start to the week. Not far behind, the Nasdaq 100 saw an impressive jump of 1.23% at the same time, while the S&P 500 rose by 0.94% just a minute later.

Euro Strengthens Against the Dollar

In currency markets, the euro gained 0.35% against the dollar by 4:30 am ET, trading at $1.08534. This movement reflects the broader market optimism as geopolitical tensions show signs of easing.