U.S. bank stocks mixed as sector remains under spotlight

U.S. bank stocks continued to draw attention of investors on Thursday as pundits downplayed recent bank failures and a bailout for banking giant Credit Suisse provided a lift.

U.S. megabank stocks edged up in pre-market trades after losses in the previous session, as ailing giant Credit Suisse CS, +2.08% said it lined up $54 billion in credit from Swiss National Bank and acquire beaten-up debt.JPMorgan Chase & Co. JPM, -1.18% rose 0.3% in premarket trades, while Morgan Stanley MS, -2.26% rose 0.1% and Citigroup Inc. C, -1.90% rose 0.5%. Bank of America BAC, -0.58% rose 0.3% and Wells Fargo & Co. WFC, -0.74% added 0.4%.

First Republic FRC, -29.56% tumbled another 27% in premarket trade amid reports it’s exploring its strategic options, including a potential sale of the company. Fitch noted Western Alliance Bancorp reported cash reserves of $25 billion in a March 13 filing. The company’s cash is equivalent to about 47% of total deposits reported as of Dec. 31.

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Stock market news: Indexes trade mixed amid Credit Suisse troublesUS stocks trade mixed as Credit Suisse troubles stoke fears of a banking crisis
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Stock Market Today: Dow Futures Drop 600 Points, Credit Suisse Stock Price Down 25%The Dow dropped more than 500 points as banking fears increased and Credit Suisse shares tumbled. Treasury yields fell sharply. Probably good for inflation. “Edna! Get my broker on the line! We’re putting everything in Gold! We’re circling the drain! And bring the Maker’s Mark with you!”
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