US stocks extend gains as the quarter winds down | Forexlive

A bank run can seemingly come out of nowhere but by the same token, it can evaporate just as quickly.

Yesterday the shorts took at run at Metropolitan Bank with some success but shares have rebounded 23% today and the KRE regional bank ETF is up 0.2%.

Undoubtedly, banks are wounded after the latest rout and there’s a high likelihood of further profit-sucking regulation on the industry but for the broader market, it’s yesterday’s story. There will be some knock-ons due to tighter lending but that’s been mitigated (or more) by less-hawkish central banks.

So what’s a trader to do? The answer appears to be: Buy non-bank stocks as the economy proves remarkably resilient. The S&P 500 is up 37 points, or 0.9% with the Nasdaq up 1.2%. The S&P 500 clearing the March high is the last signal that this episode is over.