After the positive news about the SVB, investors are more risk averse, which supports the stock markets. Earlier Monday, the Federal Deposit Insurance Corporation (FDIC) said that deposits and loans from bankrupt Silicon Valley Bank were being transferred to US-based First-Citizens Bank. First Citizens jumped 42%, First Republic Bank - 16%.
California regulators on March 10 closed Silicon Valley Bank, one of the twenty largest banks in the United States. It was the largest bank failure in the US since the 2008 financial crisis.
At the close in the New York Stock Exchange, the Dow Jones rose 0.60%, the S&P 500 index rose 0.16%, the NASDAQ Composite index fell 0.47%.
International Business Machines (NYSE:IBM) was the top performer in the Dow Jones Index today, up 4.02 points or 3.21% to close at 129.31. JPMorgan Chase & Co (NYSE:JPM) rose 3.58 points or 2.87% to close at 128.49. American Express Company (NYSE:AXP) rose 3.34 points or 2.09% to close at 163.12.
The least gainers were Nike Inc (NYSE:NKE), which shed 2.90 points or 2.40% to end the session at 117.81. Microsoft Corporation (NASDAQ:MSFT) was up 4.19 points or 1.49% to close at 276.38, while Apple Inc (NASDAQ:AAPL) was down 2.10 points or 1.31 %) and finished trading at 158.15.
Among the S&P 500 index components gainers in today's trading were First Republic Bank (NYSE:FRC), which rose 11.97% to 13.84, International Flavors & Fragrances Inc (NYSE:IFF), which gained 6 .35% to close at 89.62, and Hewlett Packard Enterprise Co (NYSE:HPE), which edged up 5.45% to close at 15.01.
The least gainers were Carnival Corporation (NYSE:CCL), which shed 4.77% to close at 8.79. Shares of American Tower Corp (NYSE:AMT) shed 3.24% to end the session at 193.15. Alphabet Inc Class C (NASDAQ:GOOG) was down 2.83% to 103.06.
The leading gainers among the components of the NASDAQ Composite in today's trading were WiSA Technologies Inc (NASDAQ:WISA), which rose 89.47% to 3.60, First Citizens BancShares Inc (NASDAQ:FCNCA), which gained 53. 74% to close at 895.61, and Gorilla Technology Group Inc (NASDAQ:GRRR), which rose 41.15% to close at 11.80.
The least gainers were KludeIn I Acquisition Corp (NASDAQ:NIR), which shed 59.08% to close at 4.98. Shares of Codiak BioSciences Inc (NASDAQ:CDAK) shed 56.70% to close at 0.19. Unity Biotechnology Inc (NASDAQ:UBX) dropped 53.01% to 1.95.
On the New York Stock Exchange, the number of securities that rose in price (2209) exceeded the number of those that closed in the red (799), while quotes of 91 shares remained virtually unchanged. On the NASDAQ stock exchange, 2148 companies rose in price, 1466 fell, and 206 remained at the level of the previous close.
The CBOE Volatility Index, which is based on S&P 500 options trading, fell 5.24% to 20.60.
Gold Futures for June delivery lost 1.29%, or 25.75, to hit $1.00 a troy ounce. In other commodities, WTI crude for May delivery rose 5.43%, or 3.76, to $73.02 a barrel. Futures for Brent crude for June delivery rose 4.37%, or 3.26, to $77.85 a barrel.
Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.38% to 1.08, while USD/JPY rose 0.67% to hit 131.57.
Futures on the USD index fell 0.27% to 102.48.