Wall Street gains ground amid spreading calm about banking sector

2 months ago

US stock indices rose on Thursday following earlier data while concerns about the banking sector fade away as authorities intervene. 


Banking Troubles


Banking shares rebounded today, with the SPDR-S&P regional bank index rising 1%, accumulating 7% of gains since March 23. 


Investors continue to show optimism that the banking crisis is tapering off with the volatility index VIX hitting 19 after scaling 30 earlier this month.




Earlier US data showed the GDP grew 2.6% y/y in the fourth quarter of 2022, down from 3.2% in the third quarter, and missing estimates of 2.7%. 


US unemployment claims rose to 198 thousand in the week ending March 25, above estimates of 196 thousand, and above the previous reading's 191 thousand.


Dow Jones rose 0.3%, or 85 points as of 15:07 GMT to 32,803,while S&P 500 climbed 0.6%, or 23 points to 4,050, as NASDAQ added 0.8%, or 102 points to 12,028.

American Markets News

Americas News


Wall Street edges up despite pressures on banking sector
17 hours ago
US stock indices rose mildly on Tuesday amid pressures on the US banking sector while investors ...
Americas News


Apple hits record high after mixed reality headset
20 hours ago
Apple hit a near record high on Monday with its valuation approaching $3 trillion after revealing a ...
Americas News


Wall Street leans higher as the week opens up
1 day ago
US stock indices mostly rose on Monday as investors assess latest developments in monetary ...