Wall Street edges up despite pressures on banking sector

Economies.com
2023-06-06 15:13PM UTC

US stock indices rose mildly on Tuesday amid pressures on the US banking sector while investors following the yields on US treasury bonds.

 

Several banks registered losses after reports that regulators are considering a tightening of capital requirements in major banks. 

 

Allianz chieft economist Muhammad Al-Aryan said that while concerns about a US debt default have subsided, markets now are looking forward to the Fed's efforts to contain inflation.

 

Despite risks surrounding high interest rates in the last 15 months, the tech sector was particularly brilliant amid the AI industry boom.

 

On trading, Dow Jones rose 0.1%, or 18 points as of 16:12 GMT to 33,585, as S&P 500 rose 0.2%, or 9 points to 4,283, as NASDAQ climbed 0.3%, or 41 points to 13,270. 

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