*U.S. STOCKS RISE AFTER UPBEAT ECONOMIC DATA, BANKS RALLY AFTER FED STRESS TEST RESULTS $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
) after a health check showed the biggest U.S. banks have enough capital to weather a severe economic slump.banks index gained more than 2% and the relief rally also helped boost the KBW Regional Banking index, which was up 1.5%.
Investors also gravitated toward economically sensitive sectors while shying away from rate-sensitive growth sectors after upbeat data dulled worries of an imminent recession.index of small-cap stocks rose more than 1%, while the materials index led gains among the S&P 500 sectors. Data showed an unexpected weekly decline in the number of Americans filing new claims for unemployment benefits, and the U.S. GDP increased at a 2.0% annualized rate in the first quarter, up from the 1.3% pace reported previously.Charles Schwab) noted that rising yields across the U.S. Treasuries maturity spectrum was putting"downward pressure on the growthier more highly-valued segments of the market" as investors adjusted rate expectations.
"Stronger than expected economic data is upping the probability of the Fed hiking rates again at the July meeting," said Sonders.
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