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Morning Report 24 Mar 23: US sharemarkets rebounded on Thursday

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Investors weighed the possibility that the central bank will pause its restrictive interest rate hikes in the near future. Shares of Netflix climbed 9% following a report from YipitData that said the streaming giant's gross additions in Canada had improved. Microsoft (+2%) and Apple (+0.7%) shares led the tech-heavy Nasdaq index higher. Bank shares fell even after US Treasury Secretary Janet Yellen said in prepared remarks to lawmakers that the US government is prepared to take further measures to protect deposits, if needed. The KBW Regional Bank index slid 3% with First Republic Bank shares down 6%. Block shares slid 14.8% after Hindenburg Research disclosed its short positions in the company. At the close of trade, the Dow Jones index rose by 75 points or 0.2%. The S&P 500 index gained 0.3% and the Nasdaq index added 117 points or 1%.

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