Stocks close higher, Dow jumps more than 300 points as banks step in to aid First Republic: Live updates

All three indexes traded below the flatline earlier in the session before news of help for troubledThe Nasdaq also has had the best week-to-date performance, up 4.9% since Monday. The S&P 500 has gained 2.2% since the start of the week, while the Dow has added 0.9%.Progressive shares get double upgraded at Wells Fargoto overweight from underweight, with her new price target of $158 implying upside of 17% from Wednesday's close.

"PGR has turned the corner on growth, and we think that will drive the stock from here," Greenspan said. "Progressive has seen its personal auto policy growth pick up significantly over the past couple of months ... as they look to take advantage of shopping as competitors are taking price/re-pricing their books of business."

"PGR is a defensive insurer with low investment leverage and conservative investment portfolio, which we believe should help the shares as we deal with market volatility," the analyst added.Bank of America, Wells Fargo among biggest contributors for $30 billion First Republic deposit plan$30 billionThe biggest contributions would come from Bank of America, Wells Fargo, Citigroup and JPMorgan Chase at about $5 billion apiece. Morgan Stanley and Goldman Sachs will deposit around $2.

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