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Commenting on the highly-anticipated meeting between US President Joe Biden and his Russian counterpart Vladimir Putin, a spokesman from Kremlin, Dmitry Peskov, said that the “Summit was rather positive.”

Additional comments

“Understanding with the US that needs to talk about stability, arms control as soon as possible.”

“Russian ambassador to return to the US in coming days.”

On Wednesday, Presidents Biden and Putin signed a joint statement vowing to launch a bilateral Strategic Stability Dialogue to lay the foundation for arms control talks and avoid nuclear war.

Russia’s Deputy Foreign Minister Sergey Ryabkov said, “The first meeting within the bilateral Strategic Stability Dialogue on  arms control  will happen in a matter of weeks, not months.”

Market implications

The positive US-Russia geopolitical development failed to lift the market mood, as the Fed’s hawkish signal continues to have a significant weight on the investors’ minds.

The S&P 500 futures drop 0.38% to 4,196 while the US dollar index renews two-month highs at 91.75.