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Stock Market Today: Dow Jumps 674 Points in Friday's Relief Rally


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  The gains weren't limited to stocks, though, with gold futures closing above the $3,000 per ounce mark for the first time.

The article from Kiplinger discusses the significant rebound in the U.S. stock market on Friday, with the Dow Jones Industrial Average surging by 674 points, marking a 2.1% increase. This rally was spurred by a relief in banking sector concerns following reassurances from Treasury Secretary Janet Yellen about potential government support for smaller banks if needed. The S&P 500 and Nasdaq also saw gains, up by 1.8% and 1.6% respectively. The market's positive movement was further supported by a drop in Treasury yields, with the 10-year Treasury yield falling to 3.42% from 3.53%. Despite these gains, the week ended with losses for all major indexes due to earlier turmoil in the banking sector, particularly with the collapse of Silicon Valley Bank and Signature Bank. Additionally, the article mentions that while the immediate crisis seemed to be contained, investors remained cautious about the broader economic implications and the Federal Reserve's next moves on interest rates.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-dow-jumps-674-points-in-fridays-relief-rally ]

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