Dow snaps 5-day losing streak, S&P 500 gains 1.7% as regional banks rally


U.S. stocks finished sharply higher Tuesday, with the Dow Jones Industrial Average snapping a five-day losing streak as regional banking stocks rose and investors weighed a report showing the rate of inflation slowed over the past year. The Dow DJIA, +1.06% closed about 1.1% higher, while the S&P 500 SPX, +1.68% gained 1.7% and the Nasdaq Composite COMP, +2.14% rose 2.1%, according to preliminary data from FactSet. Fresh data from the consumer-price index on Tuesday showed inflation rose in February in line with expectations, with the year-over-year rate cooling to 6% from 6.4% in January. Meanwhile, shares of regional banks such as First Republic Bank FRC, +26.98% rose Tuesday, after being pummeled  in recent days after the failure of Silicon Valley Bank.

This article was originally published by Read the original article here.

Previous article: Uber, DoorDash, Lyft stocks rise after Prop. 22 ruling in California
Next article: 3M stock turns lower, closes at 10-year low ahead of investor event


Please enter your comment!
Please enter your name here