Power Breakfast: Dow Closes More Than 300 Points Higher, Snaps 5-Day Losing Streak As Bank Shares Rebound

There was a good growth in Dow after the 5 days of decline. The Dow closed up 335 points amid volatility. Whereas, Nasdaq jumped more than 2% due to leadership in IT shares for the second consecutive day. Banking Index jumped 2.2%. Small banking stocks jumped 20-30%. In addition, Moody’s Investors Service revised its outlook on the US banking system to negative from stable. The 2-year bond yield rose 0.25% to 4.3%. The 10-year bond yield reached near 3.7%. Moreover, the US inflation rate was estimated at 6% in February. Today all eyes on the February Price Producer Index, Retail Sales of China, Industrial Output Data.