Stocks finished higher today as investors were encouraged by efforts to shore up the banking system.
Swiss bank giant UBS agreed to buy its troubled rival Credit Suisse for 3 billion dollars. The move comes after Swiss regulators asked both banks to complete the deal to restore confidence in the bank system.
Elsewhere, shares of New York Community Bank soared on news that its subsidiary Flagstar Bank would acquire Signature Bank.
According to a study from the Social Science Research Network, some 200 banks risk facing failure. Meanwhile, some of the world's central banks have announced a joint effort to prevent the bank crisis from spreading further.
9,000 more Amazon workers are losing their jobs thanks to another round of staffing cuts. The move comes following 18,000 layoffs over the past few months.
Eight insurance companies are getting $42 million in incentives to boost the state's property insurance market.
Crude oil prices climbed today with WTI Crude gaining one percent to settle at over $67 a barrel.
