Around 13:40 GMT, the Dow Jones rose by 0.67%, the Nasdaq index appreciated by 1.35% and the broader S&P 500 index, by 1.00%.
"The market waited to see if other banks would fall and that didn't happen," said Adam Sarhan of 50 Park Investments. "So we give ourselves a rebound of relief."
The manager recalls that despite the earthquake that hit the financial sector, the indices have resisted and are now at a level close to that of the sessions that preceded the events of March.
"If the market doesn't fall when there's bad news, it's going to go up afterwards," Sarhan said.
The surge is encouraged by a hunt for bargains, which targets in particular regional banks, shelled by suspicious investors at the height of the crisis.
On Wednesday, Zions (+1.74%), based in Salt Lake City (Utah), Comerica (+2.46%), headquartered in Dallas (Texas) and KeyCorp (+2.07%), originally from Cleveland (Ohio), were all wanted.
The VIX index, which measures market volatility, fell Wednesday to its lowest level since March 9, the day before US regulators took control of Silicon Valley Bank (SVB).
Very shaken for three weeks, the bond market continued its normalization, started Monday. The yield on 10-year US government bonds stood at 3.59%, compared to 3.56% on Tuesday at the close.
On the stock market, the sports equipment manufacturer Lululemon started in a sprint (+14.62%), pushed in the back by quarterly results better than expected and forecasts also above analysts' expectations for the whole of its staggered fiscal year (from February to January).
Semiconductor manufacturer Micron rose (+6.34%) despite a larger-than-expected quarterly loss and lower-than-market projections for the current quarter. The Boise, Idaho-based group said it was cautiously optimistic about a rebalancing between supply and demand in the coming months, after a sharp deceleration in orders since the end of 2022.
These comments also benefited its competitors Intel (+2.77%) and Broadcom (+0.90%).
© 2023 AFP