We may be seeing some of the anxiety over the health of banks diminishing to some extent. Largely due to regulators jumping in to calm the troubled waters. SVB has been taken over by First Citizens bank and Deutsche bank seems to have recovered. News from the US that deposit outflows from regional banks have slowed as well.
Also, some indication that the US FED may be looking at its interest rate strategy to slow down any future rate rises. Bank issues and rate rises seem to have some connection.
All European markets were up overnight. US market also rose.
DOW closed up 194 points. NASDAQ Biotech index rose 10 points. Tech stocks were down and that tends to have a negative effect on the NBI anyway.
Interesting to see that "safe haven" investments like gold and Bitcoin were down a bit - which is normally good news for stocks as it shows that funds may flow though to the stock markets.
IMU Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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