Smiley Faces, Global Stocks Bounce Back!
US stocks again found support to bounce back on Thursday, seeing all three major indexes close 'green' in the New York session.This follows the move by 11 of the largest US financial institutions to work together to save struggling First Republic Bank by depositing $30 billion into the bank.This in turn helps ease investors' concerns and increase market sentiment to return to positive.Not only that, Credit Suisse also got help from the Swiss National Bank (SNB) to get a loan of $54 billion.As a result, it can be seen that regional banking stocks rose again in the previous session.The three major indexes, the Dow Jones Industrial rose 1.17% to 32,246.56, while the S&P rose 1.7% to 3,960.29 and the Nasdaq jumped 2.69% to 12,581.39.The US30 index was little changed at 32,212 during the Asian session after gaining more than 1% on Thursday.The Nasdaq was led by strong gains in shares of AMD, Intel and NVIDIA as demand for chip stocks remained strong.In the meantime, US Treasury Secretary Janet Yellen also tried to ease investors' worries by saying the US banking system remains strong and Americans can feel confident that their deposits will be there when needed.
US stocks again found support to bounce back on Thursday, seeing all three major indexes close 'green' in the New York session.
This follows the move by 11 of the largest US financial institutions to work together to save struggling First Republic Bank by depositing $30 billion into the bank.
This in turn helps ease investors' concerns and increase market sentiment to return to positive.
Not only that, Credit Suisse also got help from the Swiss National Bank (SNB) to get a loan of $54 billion.
As a result, it can be seen that regional banking stocks rose again in the previous session.
The three major indexes, the Dow Jones Industrial rose 1.17% to 32,246.56, while the S&P rose 1.7% to 3,960.29 and the Nasdaq jumped 2.69% to 12,581.39.
The US30 index was little changed at 32,212 during the Asian session after gaining more than 1% on Thursday.
The Nasdaq was led by strong gains in shares of AMD, Intel and NVIDIA as demand for chip stocks remained strong.
In the meantime, US Treasury Secretary Janet Yellen also tried to ease investors' worries by saying the US banking system remains strong and Americans can feel confident that their deposits will be there when needed.
