Stocks Rally as Bank Jitters Subside

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What you need to know… The S&P 500 Index ($SPX) (SPY) Tuesday closed up +1.68%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.06%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.32%. Stock indexes Tuesday posted moderate gains on hopes that the worst of the U.S. banking turmoil has passed. Bank stocks moved higher Tuesday on optimism that actions taken by government agencies to support the banking system will prevent broader contagion. Tuesday’s U.S. consumer price report was close to expectations and was also positive for stocks. However, stock indexes fell back from their b…

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