Last Update: June 07, 2023, 02:32 AM IST
New York, United States (USA)
The broad-based S&P 500 rose 0.2 percent to 4,283.85, while the tech-rich Nasdaq Composite Index climbed 0.4 percent to 13,276.42.
Shares of KeyCorp, Fifth Third Bancorp and Comerica rose nearly five percent or more on Tuesday
Wall Street shares were higher at the end of Tuesday’s volatile session as beaten-down regional banking advanced in a quiet day for stock markets.
Investor sentiment has improved widely with US lawmakers agreeing on a compromise fiscal package to stabilize loan defaults and financial stocks following the failure of four regional banks earlier in the year.
Shares of KeyCorp, Fifth Third Bancorp and Comerica rose nearly five percent or more on Tuesday.
The Dow Jones Industrial Average closed less than 0.1 percent higher at 33,573.28.
The broad-based S&P 500 rose 0.2 percent to 4,283.85, while the tech-rich Nasdaq Composite Index climbed 0.4 percent to 13,276.42.
“Wall Street’s summer slump began early this year,” said a note from Charles Schwab.
Among individual companies, Boeing declined 0.7 percent after it disclosed that near-term deliveries of the Boeing 787 would be slowed because of a problem with part suppliers.
The aviation giant does not expect the problem to affect its full-year delivery estimates.
Pharmaceutical giant Merck dropped 2.7 percent as it filed a lawsuit against the government Medicare program, challenging a new plan to cap prices.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – AFP,
