By Devik Jain

(Reuters) – The U.S. stock market indexes are expected to recover from a steep fall during the session before, investors keeping an eye on a meeting with Western leaders in response to the Ukraine crisis that enters its second-month.

The U.S. president Joe Biden will attend a NATO special summit Thursday to meet European allies amid disagreements over the need for additional sanctions against Russia after its invasion in Ukraine.

Wall Street Indexes fell on Wednesday. However, five of their seven previous sessions saw a rise as investors bought down technology stocks. Oil prices also dropped from multi-year highs due to optimism about progress in Ukraine’s peace talks.

Greg Swenson (founder partner at Brigg Macadam) said, “This is classic Buy-the-Dip and it has afforded people the opportunity to add to some core positions such as Apple (NASDAQ;), which are good long term story, at lower prices.”

“This will continue for as long as geopolitical tensions are high with war in Ukraine, and then volatility in oil or gas.”

Apple gained 0.7% in premarket trading and appeared poised to increase its gains for the eighth straight day, after being hammered earlier in this month.

Wells Fargo Bank of America and (NYSE:), both gained 0.9% and 0.7% to make them leaders in big bank gains. Even though the U.S. central banking raised interest rates last week for the first-time since 2018, banks have not performed well so far this month.

Recently, concerns over aggressive interest rate rises affecting economic growth increased with Federal Reserve officials talking of larger rates increases.

Swenson said that the market had already priced in it, and now the Fed is trying to catch up. Swenson explained that the Fed is at great risk of not doing enough. Then they will have to do more, which could result in a recession.

The Labor Department reported that U.S. unemployment benefits applications have dropped to their lowest level in 52 years. Data also showed that durable goods orders declined in February, more than was expected.

At 08:48 AM. ET were up by 125 points or 0.36%. They were also up 22.5 points or 0.51% and up 90 points or 0.62%.

Tesla (NASDAQ) Inc rose 1.4% following the addition of mid-size SUV Model Y by car-rental company Hertz Global Holdings OTC:) Inc to its fleet.

Uber Technologies (NYSE 🙂 Inc climbed 5.4% following a deal by the ride-hailing company to include all New York City taxis in its app. Stocks in rival companies Lyft (NASDAQ:) fell 1.4%.

Nikola Corp saw an 18.4% increase in sales when it began production of electric trucks.