Stocks Rise as Banks Sigh in Relief; Bonds Retreat: Markets Wrap
- Regional banks rebound after SVB deal, report on regulators
- JPMorgan’s Kolanovic calls first quarter high point for stocks
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Gains in financial shares lifted US stocks, while Treasuries retreated as fears of broader contagion from the banking turmoil eased. Tech shares slumped after last week’s rally.
The S&P 500 rose on Monday, with financial firms in the index up more than 1%. Energy producers also advanced. The tech-heavy Nasdaq 100 ended the session 0.7% lower capping a two-week advance. The two-year Treasury yield topped 4%.