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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 — soaring 7.9% over last year — 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. Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment. The Security Service of Ukraine said in a tweet that it was able to effectively target Russian convoys near Kyiv because of messages sent to an official Telegram bot account called "STOP Russian War." Apparently upbeat developments in Russia's discussions with Ukraine helped at least temporarily send investors back into risk assets. Russian President Vladimir Putin said during a meeting with his Belarusian counterpart Alexander Lukashenko that there were "certain positive developments" occurring in the talks with Ukraine, according to a transcript of their meeting. Putin added that discussions were happening "almost on a daily basis." In 2018, Russia banned Telegram although it reversed the prohibition two years later.
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