Wall Street ended the day higher, with Fed hopes contained

Wall Street ended the day in the green, with markets calmed down on assurances that the financial system is stable, after a tumultuous two weeks. Investors are still assessing the possibility of the US Federal Reserve raising interest rates by 25 basis points.

The Dow Jones Industrial Average rose 0.98%, to 32,56.6 points. On the other hand, the Standard & Poor’s 500 Index (S&P 500) rose 1.3% to 4,002.87 points. Indeed, the Nasdaq Technology Composite Index rose 1.58% to 11,860.11 points.

Among the major market moves, First Republic Bank rose 29.47% to $15.77, after it was reported that JP Morgan is helping the financial institution define a strategy to ensure its viability.

“This is the easiest market scenario,” said analyst Nicholas Colas of DataTrek Research for Bloomberg, adding that “expectations for a dramatic scenario in terms of monetary policy are decreasing,” given that “expectations for Fed decisions are now among the market possibilities, which is Good for the stock market.