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Post by bot on Apr 12, 2018 18:54:07 GMT -5
U.S. stocks close sharply higher in bank-driven rally
U.S. stocks closed sharply higher on Thursday, with major indexes extending recent outperformance as geopolitical concerns appeared to fade. The Dow Jones Industrial Average rose 1.2% to 24,483. The S&P 500 gained 0.8% to 2,664. The Nasdaq Composite Index rose 1% to 7,140. Geopolitical issues appeared to fade after President Donald Trump tweeted that a military strike on Syria may not be imminent. Escalating tensions over the Middle Eastern country were seen as a major contributor to weakness in Wednesday's session. The day's gains were broad, with seven of the 11 primary S&P 500 sectors higher on the day, although the rally was led by financial stocks. The sector jumped 1.9%, supported by strong results from BlackRock Inc. , as well as rising bond yields. J.P. Morgan Chase & Co. rose 2.5%; the stock is scheduled to release its quarterly results on Friday.
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