Regional bank stocks also rebounded on declines linked to the First Republic Bank collapse after some analysts said there was an oversold. This increases upward momentum.
PacWest Bancorp shares soared 81.7 percent and Western Alliance Bancorp soared 49.2 percent, while the KBW regional bank index soared 4.7 percent.
Meanwhile, Apple’s quarterly results have eased investor concerns about a possible recession. Shares of the iPhone maker hit their highest level in nine months. And the stock ended up 4.7 percent in its biggest daily percentage gain since November.
The Dow Jones Industrial Average (.DJI) rose 546.64 points, or 1.65%, to 33,674.38, the S&P 500 Index (.SPX) rose 75.03 points, or 1.85%, to 4,136.25, and the Nasdaq Composite Index (.IXIC) rose 269.02 points, or 2.25%, to 12,235.41 points
US crude oil ended up 4.05% at $71.34 a barrel. and Brent ended at $75.30, up 3.86%.
Gold prices fell 1.7% to $2,017.03 an ounce. U.S. gold futures fell 1.76% to $2,017.40 an ounce.
2023-05-05 22:25:00
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