Banks lead stock gains after First Citizens buys SVB assets

Summary by Ground News

Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8%. The FDIC took control of Silicon Valley Bank after it collapsed on March 10. Deutsche Bank, whose stock tumbled 8.5% in Germany on Friday, gained 3.2%.

Published 2 months ago

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The Epoch Times

Wall Street, Banks Rise After SVB Sale to First-Citizens

U.S. futures shot higher early Monday, with bank stocks mostly gaining after the Federal Deposit Insurance Corp. said it had agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8 percent early Monday. The FDIC took control of Silicon Valley Bank after it collapsed on March 10, promising to protect all depositors. Nasdaq-…

2 months ago·New York, United States

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Business Insider

US stocks trade mixed as bank fears ebb with sale of SVB assets to First Citizens

Bank jitters eased Monday as First Citiizens announced a deal to acquire assets from SVB. A Senate hearing on the bank crisis is slated for Tuesday.

2 months ago·United States

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Alaska Highway News

Banks lead stock gains after First Citizens buys SVB assets

NEW YORK (AP) — Socks are rising on Wall Street Monday as battered banks show more strength, at least for now. The S&P 500 was 0.6% higher as of 9:55 a.m. Eastern time. The Dow Jones Industrial Average rose 250 points, or 0.

2 months ago

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