U.S. stocks closed mostly higher Monday, as bank shares climbed after First Citizens BancShares Inc.
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, +11.97% among the index’s top-performing stocks, FactSet data show.
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The roller coaster ride S&P 500 🎢