Wall Street ends volatile week higher as Fed officials ease bank fears

NEW YORK, March 25 — US stocks closed higher yesterday, marking the end of a tumultuous week as Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector.

“Equity markets drifted higher as concerns lingered about another banking flare up in the US or abroad,” said David Carter, managing director at JPMorgan Private Bank in New York. “Wall Street is taking its cues from Washington and other capitals as it relates to interest rates and banking regulations.”

“The Fed may be jaw-boning a bit as it says more rate increases may be coming this year,” JPMorgan’s Carter added. “It helps both their inflation goal and suggests confidence in our economic system.” The Dow Jones Industrial Average rose 132.28 points, or 0.41 per cent, to 32,237.53, the S&P 500 gained 22.27 points, or 0.56 per cent, to 3,970.99 and the Nasdaq Composite added 36.56 points, or 0.31 per cent, to 11,823.96.

Activision Blizzard jumped 5.9 per cent after the UK competition regulator dropped some competition concerns in the Microsoft-Activision deal.

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