US stocks climbed on Thursday as traders continued to shake off concerns around the health of the global banking system following this month's string of collapses.the Nasdaq charged deeper into bull-market territoryInitial filings for unemployment insurance ticked higher last week, but remain largely low amid a resilient labor market. Meanwhile, investors are looking toward personal consumption expenditures data on Friday for a gauge on inflationary pressures in the economy.
"Collectively, financial markets are pricing in the best of both worlds – a recession that allows rates to be low and brings inflation down sharply, yet one that does not have a massively negative effect on corporate earnings," Ajay Rajadhyaksha, global chairman of research at Barclays, said in a Thursday note.
It's encouraging to see the progress already made in putting the bank crisis behind us, and exciting to anticipate more inflation data!