By Yasin Ebrahim

Investing.com – The S&P 500 notched gains on Tuesday, as a tech-fueled rally and growing hopes of a de-escalation in the Ukraine-Russia conflict helped stocks shrug off further signs from the bond market sounding the alarm on a potential recession. 

For the first time since January, the index rose 1.3% and closed above 4,600. It gained 1.84% by adding 0.97% (339 points)

Russia regards Russia’s promise to cut military activities in the Kyiv/Chernihiv zones as a method of building trust with Ukraine in talks that may eventually lead to an agreement which could be key to ending war. 

There are doubts about whether much can be read into Moscow’s willingness to scale back military activity as Russia’s progress toward Kyiv has stalled recently, and there wasn’t any mention of cutting back military operations in the South of Ukraine, where fighting has intensified.

The prospect of progress at the talks were boosted a day earlier after Ukrainian President Volodymyr Zelensky said he was open to discussing some of the Kremlin’s demands around neutrality.

Petroleum prices were dominated by Russia and Ukraine headlines, which dragged oil stocks lower, as investors decreased their expectation of long-term war that would disrupt energy supplies.  

Recent gains were aided by the growth areas of tech and consumer discretionary.

Following a slow start, Chip stocks resumed the uptrend. NVIDIA (NASDAQ) gained after Wall Street comments.

Tigress Financial has raised the price target for Nvidia from $400 to $410 per share. The reason is new products and growing demand for data centers.

Uber Technologies (NYSE) rallied around 7%, as Uber Technologies (NYSE;) is said to be close to signing a contract with a San Francisco taxi firm in order include taxis from San Francisco on its platform.

A strong foundation of real estate was the reason that real estate led the wider market higher. CBRE (NYSE:), Extra Space Storage (NYSE:) Equinix (NASDAQ :).

Nielsen Holdings (NYSE) Holdings rose 20% in response to reports by private equity investors that a ratings agency was being purchased for $16 billion.

FedEx (NYSE 🙂 surged more than 3% upon the news that Fred Smith, Fred Smith’s founder and chief executive officer of logistics, would be retiring.

Raj Subramaniam, the current president and chief operational officer will succeed Smith. The transition is expected to be “seamless,” Oppenheimer said.  

“In recent years Mr. Smith appeared to have been ceding an increasing amount of operational and investor-facing responsibility to his top reports, particularly Mr. Subramaniam,” it added.

The move higher in stocks hasn’t taken focus away from the bond market, in which a key part of the Treasury yield curve briefly inverted, exacerbating concerns about a potential recession ahead.

For the first time in 2019, the yield of the 10-year Treasury fell below that on the 2-year Treasury.  Every recession in the past 40 years has been preceded by a yield curve inversion.