U.S. stocks finish mostly higher as bank shares rebound


U.S. stocks closed mostly higher Monday, as bank shares climbed after First Citizens BancShares Inc. FCNCA, +53.74% agreed to buy failed Silicon Valley Bank’s deposits and loans. The Dow Jones Industrial Average DJIA, +0.60% finished 0.6% higher, while the S&P 500 SPX, +0.16% gained 0.2% and the technology-heavy Nasdaq Composite COMP, -0.47% slipped 0.5%, according to preliminary data from FactSet. Regional and big banks helped buoy the S&P 500, with First Republic Bank FRC, +11.81% among the index’s top-performing stocks, FactSet data show. Shares of major Wall Street banks such as Bank of America Corp. BAC, +4.97%, Citigroup Inc. C, +3.87%, Wells Fargo & Co. WFC, +3.42% and JPMorgan Chase & Co. JPM, +2.87% also saw sharp gains in Monday’s trading session.

This article was originally published by Marketwatch.com. Read the original article here.

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