US stocks close: Debt ceiling negotiations see a glimmer of hope! All three major indexes rise over 1%, regional banks index surges over 7%, Tesla rises over 4%

$S&P 500 Index (.SPX.US)$ Up 48.87 points, an increase of 1.19%, closing at 4158.77 points. $Dow Jones Industrial Average (.DJI.US)$ Up 408.63 points, an increase of 1.24%, closing at 33420.77 points. $Nasdaq Composite Index (.IXIC.US)$ Up 157.51 points, an increase of 1.28%, closing at 12500.57 points. $Invesco QQQ Trust (QQQ.US)$ $Ishares Russell 2000 Value Etf (IWN.US)$ Small cap stocks rose 2.82%.

US stocks rose over 1%, with the Dow Jones up over 400 points and small cap stocks leading the way, up over 2%. The Nasdaq initially turned down.

The S&P 500 index's 11 sectors all rose. $Consumer Discretionary Select Sector SPDR Fund (XLY.US)$ 、 $Financial Select Sector SPDR Fund (XLF.US)$ All sectors rose over 2%. $Energy Select Sector SPDR Fund (XLE.US)$ Rose nearly 2%. $Industrial Select Sector SPDR Fund (XLI.US)$ 、 $Real Estate Select Sector Spdr Fund (The) (XLRE.US)$ 、 $The Technology Select Sector SPDR® Fund (XLK.US)$ 、 $The Communication Services Select Sector SPDR® Fund (XLC.US)$ Up more than 1%, defensive. $Utilities Select Sector SPDR Fund (XLU.US)$ The worst performance was -0.36%.

Rising star tech stocks are up. "Metaverse" $Meta Platforms (META.US)$ Rose 1.5%, the highest since May 1. $Apple (AAPL.US)$ After a 1% drop, it rebounded by 0.4%. $Netflix (NFLX.US)$ Rose nearly 2%. $Tesla (TSLA.US)$ Rising more than 4% to a one-month high. Among AI concept stocks, $Amazon (AMZN.US)$ Rising by 1.9%, hitting a new six-and-a-half-month high. $Microsoft (MSFT.US)$ Rising by 1% to the highest level in 16 months. $Alphabet-A (GOOGL.US)$ Rising by over 1%, hitting a new high of nine months.

Chip stocks also generally rose. $PHLX Semiconductor Index (.SOX.US)$ Rising by 2.5% to a five-week high. After rising more than 4% yesterday, $Advanced Micro Devices (AMD.US)$ Rising by over 2% again, reaching a high of over nine months. $NVIDIA (NVDA.US)$ Surging by over 3%, hitting the highest level in nearly 17 months since December 2021, but $Intel (INTC.US)$ Dropping by over 1% again.

Many AI concept stocks rebounded. $C3.ai (AI.US)$ Rising more than 14%, recouping all the losses since April 4 to the six-week high. $BigBear.ai Holdings (BBAI.US)$ Declining by 0.4%, hitting a near six-week low. $SoundHound AI (SOUN.US)$ Rising nearly 10%, moving away from the two-week low.

Bank stock indexes rebounded sharply, reaching their highest levels since May 1. The industry benchmark, the Philadelphia Stock Exchange. $KBW Nasdaq Bank Index (.BKX.US)$ Rose more than 5%, after hitting the lowest level since October 2020 on May 4. The KBW Nasdaq Regional Bank Index (KRX), which fell nearly 2% yesterday, rose more than 7% after hitting its lowest point since November 2020 on Thursday of last week. $Spdr Series Trust S&P Regional Bkg Etf (KRE.US)$ Rising more than 7%, reaching the highest level since October 2020 on May 4.

Among the "big four banks" in the United States, $JPMorgan (JPM.US)$ increased by 3%, $Citigroup (C.US)$ and $Bank of America (BAC.US)$ increased by about 4%, $Wells Fargo & Co (WFC.US)$ rose more than 5%. Among regional banks, the one that dropped by over 14% yesterday $PacWest Bancorp (PACW.US)$ increased by more than 21%, $Western Alliance Bancorp (WAL.US)$ rose by more than 10%, marking the highest level since May 1 after four consecutive days of increase, $Zions Bancorp (ZION.US)$ increased by 12%.

The former CEO of First Republic Bank stated that the supervisory and regulatory authorities did not share data with potential buyers before April 24; the closure of First Republic Bank is due to the spread of panic in the banking industry.

DisneyThe CFO stated that the 'Disney+' business will soon achieve a balance of income and expenses; the strike by the Writers Guild of America (WGA) may affect the company's cash outlay for the current fiscal year.

The Credit Derivatives Determinations Committee (CDDC), responsible for overseeing the credit default swap (CDS) market, states that Credit Suisse's full write-down of Additional Tier 1 (AT1) bonds will not trigger CDS payouts. According to the announcement on its official website, the CDDC ruled at Wednesday's meeting that the write-down of Credit Suisse's AT1 bonds will not result in CDS payouts triggered by the bank's subordinated bonds used as CDS symbols. The committee believes that AT1 bonds have a lower payback priority than the subordinated bonds that serve as CDS symbols.