Asset Classes

Free investment financial education


Multilingual content from IBKR

Close Navigation
Learn more about IBKR accounts

Bank Stocks Lead Rally After First Citizens BancShares Buyout of Silicon Valley Bank

Posted March 27, 2023 at 9:45 am
Patrick J. O’Hare

The S&P 500 futures are up 24 point and are trading 0.7% above fair value. The Nasdaq 100 futures are up 32 points and are trading 0.4% above fair value. The Dow Jones Industrial Average futures are up 208 points and are trading 0.6% above fair value.

The stock market is poised for a higher open with bank stocks leading the charge follow reports that First Citizens BancShares (FCNCA) will acquire all deposits and loans of Silicon Valley Bank (SIVB). Also, President Biden said that FDIC insurance could be tapped for deposits above $250,000 if additional banks fail, according to Reuters.

Investors are also reacting to news that the U.S. is considering expanding an emergency lending facility for banks in a way to give First Republic (FRC) additional time, according to Bloomberg

Aside from First Republic Bank (FRC) and First Citizens BancShares (FCNCA), other bank stocks are trading up this morning in solidarity. PacWest Bancorp (PACW), KeyCorp (KEY), and Western Alliance Bancorp (WAL) are standouts in that regard.

Treasury yields are moving higher this morning. The 2-yr note yield is up 18 basis points to 3.95% and the 10-yr note yield is up 11 basis points to 3.49%. The U.S. Dollar Index is down 0.1% to 103.07.

Energy complex futures trade mixed. WTI crude oil futures are up 1.4% to $70.26/bbl and natural gas futures are down 3.2% to $2.29/mmbtu.

Originally Posted March 27, 2023 – Bank stocks lead rally after First Citizens BancShares buyout of Silicon Valley Bank

Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from and is being posted with its permission. The views expressed in this material are solely those of the author and/or and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Disclosure: Futures Trading

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.