Wall Street's main indexes climbed on Tuesday after the rescue of Credit Suisse calmed nerves about a bigger banking crisis, while investors awaited the outcome of the Federal Reserve's monetary policy meet.
and steps taken by central banks to boost liquidity have eased contagion fears for the broader banking sector, but analysts believe the crisis hasn't been fully averted.to protect bank depositors may be needed if smaller institutions suffer deposit runs that threaten more contagion, U.S. Treasury Secretary Janet Yellen told bankers on Tuesday.
"Investors are hoping for the best of both worlds. are optimistic that the banking situation is being stabilized, but they're also optimistic that the Fed will have a little bit more dovish tone because of that banking situation," said Brian Klimke, investment director at Cetera Investment Management LLC
"This stabilization in the banking space will give them room to hike a little bit more but we do expect that their tone might be a little less hawkish."
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