Market Volatility Continues Amid Fed Signals and Moody's Warning

The stock market rally rebounded strongly Thursday morning, but the major indexes slashed intraday gains, while the Russell 2000 hit a fresh 2023 low as Moody's Investor Service warned of wider bank contagion and economic fallout. Bank stocks were big losers Thursday. On the upside, homebuilders and semiconductor ETFs are looking strong. Investors should remain cautious as the rally attempt remains divided and volatile, with the banking sector a major negative.