Stock Market News Today: US Stocks Jump As Banking Fears Ebb
Morgan Stanley's top strategist said the fallout in the banking sector starts what's likely to be the "vicious" end to the bear market in stocks.
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Morgan Stanley's top strategist said the fallout in the banking sector starts what's likely to be the "vicious" end to the bear market in stocks.
Mega-cap tech stocks became the new safety trade this week and helped power the Nasdaq 100 to its best weekly return since November.
Elsewhere, oil prices slid this week as the outlook for further monetary tightening stoked recession fears and demand concerns.
Bond yields soared on Friday after the January jobs report showed payroll gains of 517,000 and the unemployment rate at a 53-year low.
With about half of S&P 500 companies having reported fourth-quarter earnings, 70% of those companies beat profit estimates by a median of 6%.