The Dow Jones Industrial Average opened higher on Monday after UBS Group agreed to buy its beleaguered Swiss peer, Credit Suisse, in a deal aided by Swiss authorities. The Dow advanced 90 points, or 0.3%, to 31,952:
The S&P 500 and Dow opened higher on Monday after UBS Group agreed to buy its beleaguered Swiss peer, Credit Suisse, in a deal that was aided by Swiss authorities. The S&P 500 SPX, +0.45% gained 5 points, or 0.1%, to 3,921. The Dow Jones Industrial Average DJIA, +1.07% advanced 90 points, or 0.3%, to 31,952. The Nasdaq Composite COMP, -0.35% shed 16 points, or 0.1%, to 11,618.
On Sunday night in New York, the Federal Reserve in coordination with a host of other central banks announced plans to introduce daily U.S. dollar swap-line operations to help bolster liquidity in the global financial system. U.S. banking stocks including holdings of the SPDR S&P Regional Bank ETF KRE, +4.73% traded broadly higher after the open, although weakness persisted in shares of First Republic Bank FRC, -13.11%, which opened sharply lower.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse faces demise as UBS, Swiss regulators discuss takeoverFuture of 167-year-old Credit Suisse in question amid reports of a takeover by rival UBS as soon as Saturday evening as world economies scramble to prevent another global financial contagion
Read more »
UBS closing in on deal to buy fellow Swiss bank Credit SuisseSwiss bank UBS Group is closing in on a deal to take over its rival Credit Suisse amid a weekend of frenzied negotiations, according to multiple reports.
Read more »
Crunch time for Credit Suisse talks as UBS seeks Swiss assurances By Reuters*CRUNCH TIME FOR CREDIT SUISSE AS UBS AND SWISS REGULATORS RUSH TO SEAL TAKEOVER DEAL AS SOON AS SUNDAY: REPORTS
Read more »
UBS seeks Swiss backstop in any Credit Suisse deal - Bloomberg News By Reuters*UBS SEEKS SWISS BACKSTOP IN ANY CREDIT SUISSE DEAL $UBS $CS 🇨🇭🇨🇭
Read more »
UBS to buy troubled Credit Suisse in deal brokered by Swiss governmentBanking giant UBS will buy rival Credit Suisse in a last-minute deal brokered by Swiss officials to try and prevent a banking crisis.
Read more »
Swiss government approves UBS purchase of Credit SuisseThe Swiss government announced that it approves of the UBS purchase of lender Credit Suisse and that the Central Bank of Switzerland will provide essential liquidity for both sides. Gretchen Morgenson explains if the buyout will calm the markets following a Credit Suisse stock plunge.
Read more »