U.S. stocks finish mostly higher as bank shares rebound
U.S. stocks closed mostly higher Monday, as bank shares climbed after First Citizens BancShares Inc. ...
U.S. stocks closed mostly higher Monday, as bank shares climbed after First Citizens BancShares Inc. FCNCA, +53.74% agreed to buy failed Silicon Valley Bank’s deposits and loans. The Dow Jones Industrial AverageDJIA, +0.60% finished 0.6% higher, while the S&P 500SPX, +0.16% gained 0.2% and the technology-heavy Nasdaq CompositeCOMP, -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. Shares of major Wall Street banks such as Bank of America Corp. BAC, +5.01%, Citigroup Inc. C, +3.83%, Wells Fargo & Co. WFC, +3.48% and JPMorgan Chase & Co. JPM, +2.92% also saw sharp gains in Monday’s trading session.
Energy Transfer to Acquire Permian’s Lotus Midstream for $1.45 Billion
Energy Transfer’s acquisition of Lotus Midstream’s infrastructure includes the Centurion Pipeline...
Energy Transfer’s acquisition of Lotus Midstream’s infrastructure includes the Centurion Pipeline and adds about 3,000 miles of crude gathering and transportation pipelines that extend from New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma.
Well, at least a large chunk of it. First Citizens BancShares, a Raleigh-based regional...
Well, at least a large chunk of it. First Citizens BancShares, a Raleigh-based regional bank, is scooping up SVB’s deposits, loans, and 17 branches that will reopen today under new ownership. About $90 billion of SVB’s assets will remain with the FDIC, which took control of SVB following its epic collapse over two weeks ago. The sale is meant to “instill confidence in the banking system,” the CEO of First Citizens said, and it seems to be working for now: Regional lenders like First Republic Bank are surging premarket.
A rare alignment of five planets will be visible in the night sky this week, but ...
A rare alignment of five planets will be visible in the night sky this week, but Tuesday evening will be your best bet. Just head outside right after sunset, look west, and you’ll see Mercury, Venus, Mars, Jupiter, and Uranus appear to line up in an arc shape below the crescent moon. Anyone on Earth should be able to see it, even if you’re living in a city with light pollution.
Legendary technologist and philanthropist Gordon...
Legendary technologist and philanthropist Gordon Moore passed away Friday at his Hawaii home at the age of 94 from natural causes, according to a family representative. Among other accomplishments, he co-founded the multinational Intel and coined the concept of "Moore's Law" in 1965—a prediction that computing power would increase exponentially because the number of transistors per microchip would double roughly every two years.
