|Day's Range||585.55 - 587.65|
Wall Street's main indexes were set to open higher on Monday after a buyout deal for the deposits and loans of the failed Silicon Valley Bank calmed nerves about stress in the banking sector. First Citizens BancShares Inc said on Monday it will acquire parts of Silicon Valley Bank, which collapsed earlier this month in the largest bank failure since the 2008 financial crisis, unleashing fears about a liquidity crunch in the sector. Shares of First Citizens jumped 40% in premarket trade, while First Republic Bank surged 25.7% after a report said U.S. authorities were considering more support for banks, which could give the embattled regional lender more time to shore up its balance sheet.
Wall Street kept clawing its way back in the 12th trading week of 2023. I thought my "three stocks to avoid" -- Ollie's Bargain Outlet Holdings (NASDAQ: OLLI), Coinbase (NASDAQ: COIN), and Movado (NYSE: MOV) -- were going to lose to the market in the past week.
A jury trial begins Monday to determine how much money Tesla Inc must pay to a Black former Tesla Inc factory worker who won a lawsuit accusing the electric car maker of tolerating severe racial harassment at its flagship Fremont, California assembly plant. The case is one of several involving working conditions at Tesla and other companies owned by billionaire Elon Musk. WHAT DISCRIMINATION CLAIMS IS TESLA FACING?