Issue link: https://maltatoday.uberflip.com/i/1495033
Name Current Change %Change Open High Low Prev. Value Close US MARKETS DOW JONES 33,852.53 3.07 0.01 33847.80 33933.91 33662.45 33849.46 NASDAQ 10,983.78 -65.72 -0.59 11060.02 11086.02 10944.37 11049.50 EUROPEAN MARKETS FTSE 7,584.03 72.03 0.96 7512.00 7584.53 7512.00 7512.00 CAC 6,722.47 53.50 0.80 6706.67 6734.86 6678.75 6668.97 DAX 14,392.64 37.19 0.26 14429.22 14487.70 14363.32 14355.45 ASIAN MARKETS SGX Nifty 18,894.00 -22.50 -0.12 18916.50 18926.50 18892.00 18916.50 NIKKEI 225 27,968.99 -58.85 -0.21 27886.67 27972.89 27802.71 28027.84 STRAITS TIMES 3,290.49 14.13 0.43 3279.86 3290.56 3270.03 3276.36 HANG SENG 18,597.23 392.55 2.16 18141.56 18645.35 18052.32 18204.68 TAIWAN WEIGHTED 14,879.55 169.91 1.16 14678.23 14879.55 14678.23 14709.64 KOSPI 2,472.53 39.14 1.61 2424.44 2472.53 2421.42 2433.39 SET COMPOSITE 1,635.36 10.97 0.68 1626.14 1636.08 1622.24 1624.39 JAKARTA COMPOSITE 7,081.31 69.24 0.99 7012.11 7081.31 6993.70 7012.07 SHANGHAI COMPOSITE 3,151.34 1.59 0.05 3141.40 3158.57 3137.37 3149.75 16.3.2023 7 MARKETS International Markets Global Indices Trading Date: 8 Mar 2023 Wall Street climbs as some beaten- down bank stocks recover STOCKS ended broadly higher on Wall Street Wednesday, as some of the most breathtaking moves from a manic Mon- day reversed course. e S&P 500 rose 1.7% after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by wor- ries that customers could yank out all their cash. Treasury yields soared to trim their historic drops. e Dow Jones Industrial Average rose 1.1%, while the Nasdaq composite added 2.1%. Gains in technology stocks, banks and communications services companies powered much of the rally. A week ago, Wall Street was expecting Tuesday's report on inflation to be the most important data of the week, if not month. e worry at the time was that inflation is staying stubbornly high, which could force the Federal Reserve to pick up the pace again on its hikes to interest rates. Such hikes can drive down inflation by slowing the econ- omy, but they hurt prices for stocks, bonds and all kinds of other investments and raise the risk of a recession. Tuesday's report showed that inflation at the consumer lev- el was 6% in February, versus a year before. at matched economists' expectations and was a slowdown from Janu- ary's 6.4% inflation rate, but it's still way above the Fed's tar- get. In normal times, that could indeed call for an increase in the size of rate hikes. e trouble for the Fed is that it's also facing a banking system that may already be cracking due to all of its rate increases from the last year, which came at the fastest pace in decades. e second- and third-largest bank failures in U.S. history have both occurred since Friday. An easier Fed could give the banking system and economy more breathing room, but it also could give inflation more oxygen. Following the inflation data, bets are largely falling on the Fed sticking with an increase of 0.25 points later this month, according to data from CME Group. Stocks across the financial industry rose Tuesday, recov- ering some of their steep earlier drops. First Republic Bank jumped 27% after plunging 67.5% over the prior three days. KeyCorp gained 6.9%, Zions Bancorp. rose 4.5% and Charles Schwab climbed 9.2%. All told, the S&P 500 rose 64.80 points to 3,920.56, ending a three-day losing streak. e Dow added 336.26 points to 32,155.40, and the Nasdaq gained 239.31 points to 11,428.15. e yield on the two-year Treasury plunged Monday by roughly half of a percentage point, a historic-sized move for the bond market. e two-year yield climbed back to 4.21% from 4.02% late Monday, another huge move. e 10-year yield jumped to 3.66% from 3.55%. European markets also rebounded after a broad retreat in Asia.