How major US stock indexes fared Monday 3/20/2023

The Associated Press

Wall Street closed higher after regulators pushed together two huge banks over the weekend and made other moves to build confidence in the struggling industry.

The S&P 500 rose 0.9% Monday. The Dow and the Nasdaq also rose. Financial stocks were among the many to rise.

Much attention has been on banks because they may be cracking under the fastest series of interest rate hikes in decades. Regulators announced a deal on Sunday where Swiss banking giant UBS would buy rival Credit Suisse. Treasury yields also climbed ahead of a looming decision on interest rates by the Federal Reserve on Wednesday.

On Monday:

The S&P 500 rose 34.93 points, or 0.9%, to 3,951.57.

The Dow Jones Industrial Average rose 382.60 points, or 1.2%, to 32,244.58.

The Nasdaq composite rose 45.02 points, or 0.4%, to 11,675.54.

The Russell 2000 index of smaller companies rose 19.10 points, or 1.1%, to 1,744.99.

For the year:

The S&P 500 is up 112.07 points, or 2.9%.

The Dow is down 902.67 points, or 2.7%.

The Nasdaq is up 1,209.06 points, or 11.6%.

The Russell 2000 is down 16.26 points, or 0.9%.