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Market watch, stocks, bonds and more!

U.S. stocks opened the week higher as investors assessed the latest developments in the banking industry, with First Citizens agreeing to buy large parts of Silicon Valley Bank.

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S&P 500: +0.6%, Dow industrials: +0.8%, and Nasdaq Composite: +0.3%

The benchmark 10-year U.S. Treasury yield was at 3.496%, from 3.777% late Friday, while trending stocks today are:

First Citizens Bancshares (FCNCA): The lender agreed to buy big pieces of Silicon Valley Bank, following the latter’s collapse more than two weeks ago. First Citizens stock surged more than 40% in premarket trading.

First Republic Bank (FRC): Shares in the struggling U.S. lender, which have been highly volatile recently, rocketed 28% higher premarket. PacWest Bancorp and Western Alliance Bancorp were also sharply higher.

Deutsche Bank (DB): The German bank’s Frankfurt-listed shares rose about 5.4%, recouping a large chunk of Friday’s losses, as concerns over spreading turmoil in European banking showed signs of easing.

Novartis (NVS): The Swiss-based pharmaceutical giant reported positive trial data for its eagerly awaited breast-cancer treatment, Kisqali. Switzerland-listed shares in Novartis and the company’s New York-listed American depositary receipts both rose about 6.7%.


Image: Nasdaq