Stocks are up today, and it’s thanks to investors celebrating recent positive news concerning the banking crisis.
First off, the Federal Deposit Insurance Corp. (FDIC) has revealed a deal for the assets belonging to failed Silicon Valley Bank. That will see First Citizens BancShares (NASDAQ:FCNCA) acquire a large portion of the company’s assets.
Doing so is good news for FCNCA stock as it nearly doubles the assets held by the company. It’s also a win for U.S. stocks as it keeps Silicon Valley Bank’s assets in U.S. receivership. This is one of the reasons bank stocks are climbing higher today.
In addition to that, there’s talk that the Federal Reserve might expand the Bank Term Funding Program. This is a lending program created earlier this month to assist banks suffering from the recent crisis. The possibility of a greater expansion has bank stocks rallying on Monday, which is pushing stocks up today.
Stock Indices Up on Monday
- The Dow Jones is up 0.37% as of Monday morning.
- The S&P 500 is rising 0.17% as of this writing.
- The Small Cap 2000 is climbing 1.41% on Monday.
Outside of these three climbing higher, there’s also the Nasdaq and the S&P 500 VIX. These are down 0.2% and 0.55%, respectively.
Investors seeking out more of the latest stock market news will want to stick around!
We’ve got all of the hottest stock market news traders need to know about on Monday. Among that is what has shares of Nio (NYSE:NIO), Walmart (NYSE:WMT), and MFA Financial (NYSE:MFA) stock moving today. You can find out more on these matters at the links below!
More Monday Stock Market News
- NIO Stock: Nio Just Signed a New 5-Year Agreement
- Dear WMT Stock Fans, Mark Your Calendars for April 4
- Billionaire Barry Sternlicht Is Betting Big on MFA Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.