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Equities Lifted After Bank Beats and Powell Comments
Markets rally on earnings strength and dovish Fed tone.
U.S. stocks rebounded, with the Dow and S&P rising, as strong quarterly results from major banks and Powell’s dovish signals bolstered confidence. Investors digested Powell’s hint at ending QT and his tempered view on job data. Banking names led the gains. The S&P banking index jumped while tech lagged. Markets appear comfortable pricing in further easing.