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The last couple days have exemplified that uncertainty. On Thursday, news emerged that talks in Turkey between the Russia and Ukraine yielded no positive result. But on Friday, Reuters reported that Russian President Vladimir Putin said there had been some âpositive shiftsâ in talks between the two sides. Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war frontâand traders would rather be able to sell any recent winnings at Fridayâs earlier prices than wait for a potentially lower price at Mondayâs open. "The argument from Telegram is, 'You should trust us because we tell you that we're trustworthy,'" MarĂ©chal said. "It's really in the eye of the beholder whether that's something you want to buy into." The news also helped traders look past another report showing decades-high inflation and shake off some of the volatility from recent sessions. The Bureau of Labor Statistics' February Consumer Price Index (CPI) this week showed another surge in prices even before Russia escalated its attacks in Ukraine. The headline CPI â soaring 7.9% over last year â underscored the sticky inflationary pressures reverberating across the U.S. economy, with everything from groceries to rents and airline fares getting more expensive for everyday consumers. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks.
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