The banking turmoil, which started earlier in March with the collapse of Silicon Valley Bank, caused a swift selloff in the sector shares and fueled jitters about the strength of the economy.Personal Consumption Expenditures data on Friday is the next key U.S. economic report.
Fed funds futures traders are now pricing in a 47% chance of a 25 basis points increase in May, after seeing it as a long shot late last week., Wall Street's fear gauge, fell to its lowest since March 9, reflecting easing investor anxiety. Advancing issues outnumbered declining ones on the NYSE by a 3.47-to-1 ratio; on Nasdaq, a 1.84-to-1 ratio favored advancers.
The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 57 new highs and 113 new lows. Reportign by Caroline Valetkevitch; additional reporting by Amruta Khandekar and Ankika Biswas; Editing by Dhanya Ann Thoppil and Vinay Dwivedi, and Aurora Ellis
Which economic system do you favor?
Funny how they use anything to pump. Micron had one of its worst earnings and with the same strategy as $NVDA, hyping and saying everything is fine, the stock market is up. Wait & see, next quarter Micron to the floor
Fake pump.
It's all on at ' Fakestreet.'
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