All three major U.S. stock indexes were higher in the final hour of trading Monday, as traders priced in a decent chance of a pause in rate hikes by the Federal Reserve next week. Dow industrials were up 0.3%, moving toward the first gain of the past five trading sessions. The Nasdaq Composite was up 1.2%, while the S&P 500 was higher by 0.5%. Investors are continuing to weigh the potential fallout from the collapse of California’s Silicon Valley Bank and Signature Bank of New York, which dragged down shares on a swath of regional and large banks.
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