Shares of banks and other financial institutions rose slightly as fears about bank stability continued to ease.
One strategist said the recent jump in the Russell 2000 was a clear indication that investors' economic pessimism and bank-stability fears were easing.
"We've seen intermittent moves in the Russell 2000 only for that to fade," said Quincy Krosby, chief global strategist at brokerage LPL Financial.
"This was a steady, steady move, which again suggests much of portfolio managers...see that perhaps the stress in the banks has, at least eased; and also that the economy was not facing an impending recession," Krosby said.
UBS signed a loss protection agreement with the Swiss government covering up to $10 billion of losses once the takeover of Credit Suisse is completed.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-09-23 1710ET
