Stocks closed mostly higher on a steadying Wall Street as battered banks showed more strength, at least for now.
The S&P 500 rose 0.2% Monday. The Dow also rose, while the Nasdaq fell.
Markets have been in turmoil following the second- and third-largest U.S. bank failures in history earlier this month. Investors have been hunting for which banks could be next to fall as the system creaks under the pressure of much higher interest rates. First Citizens’ stock soared after saying it would buy most of Silicon Valley Bank, whose failure sparked the industry’s furor earlier this month.
The S&P 500 rose 6.54 points, or 0.2%, to 3,977.53.
The Dow Jones Industrial Average rose 194.55 points, or 0.6%, to 32,432.08.
The Nasdaq composite fell 55.12 points, or 0.5% to 11,768.84.
The Russell 2000 index of smaller companies rose 18.75 points, or 1.1%, to 1,753.67.
For the year:
The S&P 500 is up 138.03 points, or 3.6%.
The Dow is down 715.17 points, or 2.2%.
The Nasdaq is up 1,302.35 points, or 12.4%.
The Russell 2000 is down 7.57 points, or 0.4%.
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