Wall Street is proceeding positive
supported by the belief that inflation data in line with expectations give the Fed room to pause in interest rate hikes
.
The Dow Jones is up 1.20% to 32,200.31 points, the Nasdaq is up 1.89% to 11,401.82 points while the S&P 500 is up 1.77% to 3,923.78 points .
First Republic flies to Wall Street, where it marks a 61% increase at the start of trading.
The bank has come under pressure with the failure of Silicon Valley Bank and has accumulated heavy losses in recent sessions.
European stock markets rebound.
Piazza Affari tries to leave behind the fears that new banking crises could follow the failure of Silicon Valley Bank,
closing the session with a decisive rebound, leading the European stock exchanges.
The Ftse Mib ended trading up 2.36% to 26,800 points. The Btp-Bund spread, one of the risk aversion thermometers on the markets, fell by 9 basis points to 183. banks, with Unicredit in the volatility auction (+4% theoretical) together with Iveco (+5%) while Generali leaps by 4.1% on the day of the accounts.
Other European stock exchanges are also closing sharply higher as they try to overcome the shock of the failure of Silicon Valley Bank,
confident that the collapse will not have repercussions on the global financial system and will not be followed by other banking crises.
In
Paris
, the Cac 40 closed the session up by 1.86% at 7,141 points, in
Frankfurt
, the Dax index rose by 1.83% to 15,232 points, while in
London
, the Ftse 100 closed up by 1.17% at 7,637 points.
Meanwhile,
Moody's cuts its outlook on the US banking system from stable to negative
following the "rapid deterioration in the operating environment" after the failure of Silicon Valley Bank and Signature Bank.
Inflation slows in the US
.
Consumer prices in February rose by 6.0% on an annual basis, in line with analysts' expectations.
On a monthly basis, the increase was 0.4%, in line with forecasts.
Consumer prices had risen by 6.4% in January.
The inflation figure is at its lowest since September 2021. Despite the slowdown, it remains well above the Fed's 2% target, on which pressure remains high.
ISTAT
The international scenario remains characterized by a high degree of uncertainty and downside risks.
This was stated
by Istat in the Note on the performance of the Italian economy
in February, underlining that "a path of inflation recovery is beginning to take longer than initially foreseen".
In the fourth quarter of 2022, Italian GDP recorded a slight negative economic change as a synthesis of the positive contribution of net foreign demand and the negative one of domestic demand net of inventories.
ANSA agency
Svb crisis, black Monday for the stock exchanges.
Europe burns 291 billion - Economy
Svb crisis, the US president tries to reassure the markets, Europe does not follow him: Milan closes at -4%, 24 billion in smoke.
Wall Street bets on the Fed and goes up.
Investors at the window despite the US government's entry into the field.
The Svb case at the Eurogroup.
More stringent rules for Italian and European banks (ANSA)
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