US stocks jump as traders put bank crisis behind them and brace for more inflation data
US stocks climbed on Thursday as traders continued to shake off concerns around the health of the global banking system following this month's string of collapses.the Nasdaq charged deeper into bull-market territoryInitial filings for unemployment insurance ticked higher last week, but remain largely low amid a resilient labor market. Meanwhile, investors are looking toward personal consumption expenditures data on Friday for a gauge on inflationary pressures in the economy.
"Collectively, financial markets are pricing in the best of both worlds – a recession that allows rates to be low and brings inflation down sharply, yet one that does not have a massively negative effect on corporate earnings," Ajay Rajadhyaksha, global chairman of research at Barclays, said in a Thursday note.
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