“To say a lot has transpired in the markets over the past three weeks would be an understatement,” said Sevens Report analyst Tom Essaye.
Major stock indexes rose to multi-week highs early Thursday as a lack of news on the nation’s banking sector proved to be good news for investors.The Dow Jones Industrial Average rose 200 points, or 0.6% in early trading, rising to its highest level since March 8, the day before a collapse in bank stocks weighed down the broader market.
Oanda analyst Craig Erlam wrote in a Thursday note to clients that confidence was “slowly returning” after a “second week without serious drama,” noting Thursday and Friday trading will reveal how much investors’ “shattered confidence has been repaired” heading into the weekend.
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