A choppy day of trading on Wall Street ended with stocks mostly higher Monday, as battered banks showed more strength, at least for now.
The S&P and Nasdaq are coming off two straight weekly gains, even as markets have been in turmoil following the second- and third-largest U.S. bank failures in history earlier this month. Investors have been hunting for which banks could be next to fall as the system creaks under the pressure of much higher interest rates.
First Republic Bank jumped 11.8% and PacWest Bancorp rose 3.5%. Most of the focus in the U.S. has been on banks that are below the size of those that are seen as “too big to fail.”
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