Set timer for 15 minutes from now5/3/2023 Lea la cobertura del mercado de hoy en español aquí. "But ultimately, investors are tying that back to: What does it mean for Fed policy and interest rates?" "Over the last week, the developments in the banking sector certainly is adding another layer of skittishness around investor confidence," said Greg Bassuk, CEO of AXS Investments. Big technology names Amazon and Alphabet - considered particularly sensitive to interest rates along with other growth stocks - each gained around 4% in Thursday's session. investors ready for the Federal Reserve policy meeting next week. Investors around the world also followed the announcement of a further rate hike of 50 basis points from the European Central Bank Thursday. 'The market is saying, 'Well, maybe the world's not gonna end like maybe people thought not that long ago,'" said Bob Doll, chief investment officer at Crossmark Global Investments. Despite concerns in the sector weighing on the minds of investors, all three indexes are on pace to end the week higher, led by the Nasdaq Composite with a 5.2% advance. Investors have been closely watching bank stocks after the closures of Silicon Valley Bank and Signature Bank prompted concerns of contagion in the sector in recent days. shares of the embattled bank fell to a record low Wednesday following reports that the Saudi National Bank, Credit Suisse's largest investor, said it would not provide additional assistance. 10, helped by a 10% gain in First Republic's shares.Īlso boosting markets was an announcement from Credit Suisse overnight that it will borrow up to nearly $54 billion from the Swiss National Bank to assure short-term liquidity. The SPDR S&P Regional Banking ETF (KRE) ETF ended the session up 3.5% in its best day since Nov. But the market turned positive after CNBC's David Faber reported that a group of banks would deposit $30 billion in First Republic. The Nasdaq Composite advanced 2.48% to 11,717.28, as investors bought technology stocks on hopes that the crisis could push the Federal Reserve to shift its outlook on monetary policy at its meeting next week.Īll three indexes traded down earlier in the session, with the Dow down more than 300 points at its lowest. The Dow Jones Industrial Average index added 371.98 points, or 1.17%, to close at 32,246.55 points. Stocks rose Thursday as Wall Street grew increasingly optimistic after a group of banks said it would aid First Republic Bank amid the industry's crisis. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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