US Stocks Surge as Global Markets Falter, Reinforcing 'No Alternative' Sentiment
Despite rising US inflation and geopolitical tensions, the S&P 500 outperformed European and Asian stock indices, highlighting Wall Street's resilience.
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Stocks struggle as weak earnings and bank concerns weigh on market.
European stock markets fell due to strain in the US banking sector, while Wall Street futures rose on bullish updates from Microsoft and Google parent Alphabet. The global stock market remained steady, with Asian markets outside of Japan closing higher in line with rising Wall Street futures. Deposit flight from US banks has prompted investors to dial down profit expectations for the global banking sector, with banks under pressure to raise interest rates on savings accounts to keep hold of customers' money.