3/21, 9:00 PM (Source: TeleTrader)
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Wall Street closes higher as banks spur recovery

Stock exchanges in the United States closed with gains on Tuesday after investors boosted bank shares. Markets were seemingly reassured by monetary and fiscal authorities that the recent commercial banking crisis will not spill over to the rest of the economy and their attention will tomorrow turn to the Federal Reserve and its next monetary policy move.

The Dow Jones Industrial Average index was up 0.98%, or 316 points at the close with American Express, its best performer, rising 3.67%. The Nasdaq 100 advanced by 1.42% as Enphase Energy jumped 7.85% at the end of the trading session. The S&P 500 closed 1.30% higher. First Republic Bank pulled up the index after soaring 29.56%.

The euro was up 0.44% compared to the dollar to change hands for 1.07695 at 3:59 pm ET.

Baha Breaking News (BBN) / MS