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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Why Fintech Stocks Nu Holdings and Block Popped Today

Eric Volkman, The Motley Fool
·2 min read
Why Fintech Stocks Nu Holdings and Block Popped Today

Numerous companies in the latter niche enjoyed a nice lift on the first trading day of the week, with Nu Holdings (NYSE: NU) rising by 5.5% and Block (NYSE: SQ) advancing by more than 6%. On Sunday, the Federal Deposit Insurance Corporation (FDIC) announced that acquisitive lender First Citizens Bancshares will be taking over the deposits, loans, and branches of SVB Financial, the parent company of the collapsed Silicon Valley Bank. The collective sigh of relief from finance sector investors was almost audible.

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