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Mar 29, 2023 thejournalbiz

U.S. stock indexes were higher in midday trading Wednesday, as concerns about the global banking system continued to ease.

The S&P 500 was up 1% around noon ET, according to FactSet.

The Dow Jones Industrial Average added around 220 points or 0.7%.

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Marketwatch
Lululemon Athletica (LULU)-Shares surged 13%
UBS Group (UBS)-UBS's Swiss-listed shares rose 4%
Micron Technology (MU)-The chip maker's stock gained 5%
Alibaba (BABA)-American depositary receipts fell 1.1%
First Republic Bank (FRC)- up 2% premarket#stockstowatch pic.twitter.com/xU4mHMYsHZ

— The_Journalbiz (@the_journalbiz) March 29, 2023

Factset chart on stocks

The Nasdaq Composite advanced 1.4%.

The yield on the benchmark 10-year U.S. Treasury was at 3.556%, from 3.560% late Tuesday, while today trending stocks are:

Lululemon Athletica (LULU): Shares surged 13% in early trading after the activewear retailer reported revenue and adjusted earnings that beat analyst expectations. The company also issued an upbeat outlook for this year.

UBS Group (UBS): UBS’s Swiss-listed shares rose 4% after the bank said Sergio Ermotti would return as chief executive following its recent takeover of Credit Suisse. The lender’s U.S.-listed shares also rose in early trading.

Micron Technology (MU): The chip maker’s stock gained 5% in morning trading after it said industry fundamentals were starting to improve. Still, Micron reported a sharp drop in revenue and said it was cutting staff, as it grapples with weaker demand and lower prices for memory chips.

Alibaba (BABA): American depositary receipts fell 1.1%. That put the stock on course to hand back a small part of the previous day’s gains, which were fueled by the Chinese e-commerce giant’s plans to split itself into six independently run companies.

First Republic Bank (FRC): The regional bank’s stock was volatile in heavy trading volumes premarket, and was up nearly 2% shortly after the open.