U.S. stocks finish sharply higher as First Republic gets rescue from banks

CORRECTION: An earlier version of this pulse said stocks finished higher on Friday. U.S. stocks finished sharply higher on Thursday, erasing losses from earlier in the session, as a group of big banks deposited $30 billion with troubled lender First Republic Bank.

The S&P 500 SPX, +1.76% gained 68.36, or 1.8%, to close at 3,960.28, according to preliminary closing data from FactSet. The Dow Jones Industrial Average DJIA, +1.17% rose 371.98 points, or 1.2%, to 32,246.55. The Nasdaq Composite COMP, +2.48% gained 283.22 points, or 2.5%, to 11,717.28.

This is a circle jerk. Withdraw your money from smaller banks so that the larger banks getting your deposits from the smaller banks can redeposit in the smaller banks

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

STOCK MARKET NEWS: Credit Suisse borrows $54B, First Republic shares sink, Dollar General’s outlookCredit Suisse gets $54 billion loan as banking contagion fears hit market, First Republic mulling options, Dollar General’s forecast, housing starts and jobless claims. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »

First Republic leads bank stocks' comeback after SVB-fueled selloffFirst Republic leads a comeback for bank stocks that cratered in the SVB-fueled selloff
Source: BusinessInsider - 🏆 729. / 51 Read more »