Around 3:00 p.m. GMT, the Dow Jones index advanced by 1.56%, the Nasdaq by 1.97% and the broader S&P 500 index climbed by 1.59%.

On Tuesday, after the embargo announced on American and British imports of Russian oil, the Dow Jones had lost 0.56% to 32,632.64 points, falling to its lowest level in almost a year.

The Nasdaq index, with strong technological coloring, had dropped 0.28% to 12,795.55 points.

The S&P 500 had lost 0.72% to 4,170.70 points.

“Market players feel a little better about the Russian-Ukrainian situation. Everything is relative but the upward trend reflects increased hope for a diplomatic solution,” noted Patrick O'Hare of Briefing.com.

The analyst pointed out before the opening of Wall Street, the surge of the Frankfurt Stock Exchange: "when you see the German DAX index prancing above 5%, you know in which direction the American stock market is going to go" .

Alleviating market concern, prices for energy and agricultural commodities, which have soared since Russia's invasion of Ukraine two weeks ago, were losing ground.

The price of a barrel of Brent from the North Sea, which had finished near 130 dollars on Tuesday, dropped 5.70% to 120.50 dollars.

American wheat, which also reached a record on Tuesday driven by uncertainties over Russian and Ukrainian supplies, fell by more than 4%.

Bond yields tightened again, reflecting a small return in risk appetite, as investors returned to equities, looking for bargains after indices fell in recent days.

Rates on 10-year US Treasury bills, which move inversely to the price of the bond, rose to 1.91% against 1.84% the day before.

Safe havens such as the dollar or gold were down.

The greenback fell sharply from its peaks against the euro, dropping 1.28% to 1.1038 dollars per euro.

Investors would watch for the monetary meeting of the European Central Bank (ECB) on Thursday.

Goldman Sachs analysts expect the ECB to tighten policy in December, but point out that the possibility of prolonged armed conflict and gas supply cuts could delay this exit strategy.

The Fed is meeting next week and its president Jerome Powell has said he is ready, despite the war and economic sanctions, for a first round of monetary tightening of 0.25%.

On the side, the big signs symbols of America which finally decided Tuesday to cut the bridges with Russia, were well received like McDonald's (+0.86%), Coca-Cola (+0.78%) or Starbucks (+3.15%).

General Electric climbed 5.37% to 92.86 dollars after announcing a share buyback program for 3 billion dollars.

The airlines were gaining height after having been very roughed up in recent sessions.

American Airlines jumped 7.48% to 14.54 dollars, and United Airlines 10.87% to 35.70 dollars.

Cruise lines also started to rise again solidly by 10%, such as Carnival or Norwegian Cruise.

Bumble, the American dating site, was the darling of the day (+40% to 23.40 dollars), after announcing solid results in the 4th quarter and rosy forecasts.

© 2022 AFP