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Confidence in the banking system returned and the stock market rose on Wall Street.

Against the backdrop of easing concerns about the banking sector, the US stock market showed positive dynamics today. As of 10:32 AM ET (1432 GMT), the Dow Jones was up 222 points or 0.7%, the S&P 500 was up 1% and the NASDAQ Composite was up 1.2%.

First Citizens BancShares Inc (NASDAQ:FCNCA) closed a deal to acquire part of Silicon Valley Bank, which suffered a collapse in early March, helping to ease concerns about the banking sector. Banking regulators will also speak to Congress today to talk about this collapse and the collapse of Signature Bank, and answer questions from lawmakers.

Futures traders are now mixed on a possible Fed rate hike when it meets in May, and according to the Fed's economic forecasts, the base rate will reach 5.1% this year, which suggests the possibility of another increase from the current target level of 4.75% to 5. %.

Data on pending home sales showed an unexpected increase in US property prices in February on the back of higher mortgage rates.

Lululemon Athletica Inc (NASDAQ: LULU) outperformed expectations and is forecasting better first-quarter and full-year results, pushing its share price up 14%.

UBS Group AG (NYSE:UBS) announced the return of Sergio Ermotti to the CEO post after acquiring Credit Suisse (SIX:CSGN), pushing its share price up 3.7%.

There was an increase in prices on the world oil market. WTI futures rose 1.3% to $74.16 a barrel, while Brent rose 0.7% to $78.75 a barrel. Gold futures fell 0.1% to $1.988.


Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
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