Power Breakfast: Stocks Close Higher, Dow Jumps More Than 300 Points As Banks Step In To Aid First Republic

Due to the return of confidence in bank stocks, there was a great rebound in the US market on Thursday. The Dow jumped 370 points to close at the day's high. While the Nasdaq closed with a gain of about 2.5 per cent for the fourth consecutive day. SGX Nifty gained about 110 points. Russell 2000 jumped 1.5%. Markets remained strong despite the jump in bond yields. Nikkei gained about 140 points. The Hengseng index gained about 250 points. In addition, Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank. Apple's stock rose 4%. ECB raised rates by 0.5%. European markets rose by 1-2%.