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US stocks: Dow, S&P gain with bank rally countering rate worries
US stock markets saw gains as bank shares rallied following the clearance of the Federal Reserve's stress test, and strong economic data increased expectations of further interest rate hikes. The S&P 500 banks index rose 2.6%, supported by the 1.8% advance of the KBW Regional Banking index. The Dow Jones Industrial Average increased 0.8%, the S&P 500 gained 0.45%, and the Nasdaq Composite closed slightly lower.
US stock markets saw gains as bank shares rallied following the clearance of the Federal Reserve's stress test, and strong economic data increased expectations of further interest rate hikes. The S&P 500 banks index rose 2.6%, supported by the 1.8% advance of the KBW Regional Banking index. The Dow Jones Industrial Average increased 0.8%, the S&P 500 gained 0.45%, and the Nasdaq Composite closed slightly lower. 
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