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Stock Market News Today: US indexes climb as banking fears ease

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US stocks climb as banking fears ease and investors focus on key Fed meeting

US stocks rose on Tuesday as banking fears eased and investors turned their attention to the Federal Open Markets Committee meeting.

Treasury Secretary Janet Yellen said the government is ready to protect deposits in smaller banks whose collapse could"pose the risk of contagion." Regional bank stocks continued to recover after her remarks were reported. First Republic Bank, which fell 47% to a record low on Monday, jumped 26% on Tuesday morning, and the SPDR S&P Regional Banking exchange traded fund moved higher 5%.

Meanwhile, Fed policymakers begin their two-day meeting on Tuesday, and markets are pricing in an 82% chance the they raise interest rates by 25 basis points on Wednesday, according to the

 

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