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US equities ended Thursday’s session noticeably higher, reversing some recent losses, as the banking sector continues to remain in the headlines. First Republic climbed after reports that it could receive up to $30 billion in deposits from some of the nation’s largest banks in an attempt to stabilize the lending firm. The economic calendar was busy yesterday, as jobless claims declined more than anticipated, import prices dipped, housing construction activity rose much more than projected, and manufacturing output in Philadelphia remained solidly in contraction territory. The Dow Jones Industrial Average rose 1.2%, the S&P 500 Index was up 1.8%, and the Nasdaq Composite increased 2.5%. Meanwhile, European equity markets also rebounded on Thursday, with the Euro Stoxx 50 Index up 2.0% and the Stoxx bank index recovering 1.3% from their worst day in over a year.
Summary as at 17.03.2023
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