The benchmark S&P 500 and the tech-heavy Nasdaq are up roughly 5.5% and 14.8%, respectively. The Dow Jones Industrial Average is down slightly in that stretch.
Stocks prevailed in a strong quarter despite broader headwinds that included the collapse of Silicon Valley Bank and other banks, a forced-takeover of Credit Suisse, and fears of wider contagion throughout the financial system. marking the start of a new bull marketMeanwhile, Friday data showed the core Personal Consumption Expenditures index, the Fed's preferred inflation gauge, clocked in cooler than expected last month. The measure, which excludes food and energy costs, rose 0.
"Inflation is still moving in the right direction, and that should ease investors' minds," eToro US analyst Callie Cox said Friday."Of course, this data was taken before banking issues popped up, so it should be taken with a grain of salt. But it does show that rate hikes are working, and that the Fed could have some room to lay off the brake."
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