US stocks jump as traders hope worst of banking crisis has passed
that JPMorgan chief Jamie Dimon was leading talks among banks to provide more financial aid to stabilize the struggling lender.
Morgan Stanley's top equity strategist, Mike Wilson, said the fallout in the banking sector marks what's likely to be the start of a"vicious" and painful end to the bear market for equities. "This is exactly how bear markets end — an unforeseen catalyst that is obvious in hindsight forces market participants to acknowledge what has been right in front of them the entire time," Wilson wrote in a note to clients.
Federal Reserve officials on Tuesday will gather for the two-day policy meeting. Views are split on if the Fed will deliver another interest rate hike or pause to avoid adding to the pain already being heaped on the financial sector by the ongoing bank crisis.
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