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The Gazette in Medina, Ohio

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This newspaper page contains 2 articles. Subscribers can read the full text of each article.

Newspaper

The Gazette

Location

Medina, Ohio, United States of America

Date

Mar 28, 2023

Page

3

Stocks Rise as Banks Power Broad Market Rebound

A choppy Wall Street session ended higher with banks led gains and the S&P 500 up 0.2 percent while the Dow rose 0.6 percent and the Nasdaq fell 0.5 percent. First Citizens surged 53.7 percent on SVB takeover talks, with other banks also strengthening amid ongoing rate pressures and recession risk.

Wall Street Google Alphabet New York Stock Exchange S&p U.S First Citizens Silicon Valley Bank Deutsche Bank Naeem Aslam Zaye Capital Markets Germany Europe United States Federal Reserve

First Citizens to Buy Silicon Valley Bank

First Citizens Bank agreed to purchase about 72 billion dollars of Silicon Valley Bank assets at a discount of 16.5 billion dollars, with the FDIC backing all deposits and absorbing a 20 billion dollar hit. Regulators aim to restore trust in regional banks while lawmakers weigh expanding deposit insurance and tighter rules. The deal follows SVB's collapse amid a broader banking system scare, fueling hearings on supervision and regulatory changes.

Federal Deposit Insurance Corp First Citizens First Republic Bank PacWest Bancorp U.S Amanda Agati PNC Asset Management Group Europe Credit Suisse UBS New York First Citizens Bank Silicon Valley Bank SVB Signature Bank FDIC Aaron Klein Brookings Institution Treasury Department Washington Silicon Valley Klein Federal Reserve Michael Barr Fed Senate Banking Committee Barr Raleigh North Carolina New York Based Signature Bank Martin Gruenberg Nellie Liang Treasury Senate House Gruenberg Congress Simon Johnson Massachusetts Institute of Technology Johnson Steven Kelly Yale Program On Kelly Federal Reserve Bank of San Francisco Treasurys Central Bank Yid saChg AMD MultiAute At&t Inc Newell Br NiSource Alibaba Northropg Alphabt NorwCruis Alphabt As Nvidia Amazons Opendrac Amé Airlines OwensCorn Apple Incs BcoBrad BkofAm PacWstBc BedBath Palantir PepsiCo Carnival Petrobras Cedarf Pfizer Cisco Citigroup Pinterest Ak CocaCola PlugPowr H Coinbase Comcast RiotBlck CredSuiss RiviaAu A CrwnElec Pra Aety Roku ExelaTers Schwab FardyFuln Shrwin FstRepBk FirstEngy SilvgteCap Fordm Sirilusxm Gamida Smucker GenElec Snapinc Apee Intel IBM Teslas Statiunh Transcen Jpmorgch JounceTh Truistan Keycorp Uber Tch US Banerp Kinross G Vale SA Kohls VerizonCm LincNat LumenTch VirgnOrbt MarathDig WalMart McDalds WellsFargo Wendys Co Microsoft YumBrads NYMX New York Mercantile Exchange CBOT ICE Chicago Board of Trade CME Chicago Mercantile Sugar (World Intercontinental Exchange Amrenbala m CptWidGrincAm CptiIncBldrAm FdmillavsAm Grfamrca Incamrca Invcamrca Nwprspctva m Wamtinvsa m Dodge & Cox Incl Dodge & Cox Fidelity Contrafund Fidelity Intidxinstiprm Fidelity TiMktidxinsPrm Fidelity Usbdld Metropolitan West Pimco Inclinstl Pimco TtlRetsins Schwab Sp500idx Vanguard 500IdxAdmil Vanguard BalldxAdmil Vanguard Vanguard EqincAdmrl Hcadmrl Vanguard InsldxInsPlus Vanguard MdCpldxAdmrl Vanguard PrmCpAdmrl Vanguard Stinvmgrdadm Vanguard Tibmidxadmil Doe SEC The Associated Press

Also Mentioned on This Page

Stan Choe Damian J. Troise Alex Veiga Stan Chee Todd Phillips Roosevelt Institute D.C Phillips the Market IN Review Dow Jones Dow Industrials Dow Transportation Dow Utilities NYSE Wilshire Russell Naspaa Vicarsrga Biosheng
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