The Dow Jones Industrial Average rose Monday to kick off an important week, as oil prices fell sharply and traders monitored the latest developments from the Ukraine-Russia war.
The 30-stock index gave up gains achieved during Friday's session and recovered 222.96 points to 33,167.15. American Express gathered 3.3%, and Visa picked up 2.9% to lead the Dow higher.
The S&P 500 restocked 21.69 points to 4,226. Financials were the best performing sector in the S&P 500.
The NASDAQ Composite jumped 24.28 points to 12,868.09, as Apple shares fell more than 1%.
Shares of energy companies fell with oil prices. Devon Energy dropped nearly 10%, while Occidental Petroleum lost more than 7% and Diamondback Energy fell 5%. The Energy Select Sector SPDR Fund was lower by 3.8%
Moderna shares jumped 16%, while Pfizer gained about 3%. Both led the health-care sector higher by more than 1%.
Ukraine and Russia resumed talks on Monday. A Ukrainian official said the country's objectives were to secure a ceasefire and an immediate withdrawal of Russian troops, along with other security guarantees.
Fighting has intensified around Ukraine's capital, Kyiv, while Russian forces bombard cities across the country, killing civilians who are unable to escape. The financial fallout of stiff Russian sanctions will come into sharper focus in the coming days ahead of a scheduled sovereign bond payment.
The U.S. Federal Reserve is expected to raise its target fed funds rate by a quarter percentage point from zero at the end of its two-day meeting Wednesday. Investors are also looking to the central bank for its new forecasts for rates, inflation and the economy, given the uncertainty from the escalated geopolitical tensions.
Treasury prices swooned, raising yields 2.1% from Friday's 2%. Treasury prices and yields move in opposite directions.
Oil prices descended $7.14 to $102.19 U.S. a barrel.
Gold prices dropped $23.00 to $1,987.70 U.S. an ounce.