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Wall Street rebounds as Italy worries ease


Wall Street rebounds as Italy worries ease

New Delhi, May 31 (ANI): Wall Street rebounded on Wednesday. Yesterday's downward trend, energy and bank stocks fueled the recovery.

Investors are hopeful that renewed attempts to form a coalition government means Italy could avoid a new election. Bank stocks like Wells Fargo and Bank of America rallied as the Federal Reserve considered a proposal to modify the 'Volcker rule'.

That law aims to prevent banks from making market bets while taking in taxpayer-insured deposits.

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