US regional banks’ stocks rise after a turbulent week.

U.S. Regional Banks See Sharp Gains in Premarket Trading

Investors are cautiously returning to the U.S. regional banking sector after the recent failure of First Republic Bank triggered a sell-off. Despite analysts’ assurances that some banks are financially sound, even those institutions saw shares dumped in the wake of the collapse of three U.S. lenders in two months. However, the KBW Regional Banking index gained almost 4.7% on Friday, indicating some stability in the sector. In premarket trading on Monday, PacWest Bancorp surged 36% to $7.82, while Western Alliance Bancorp and Comerica Inc both rose 8%, and Zions Bancorp and Keycorp were up 4% each. First Horizon Corp climbed nearly 4% after Canada’s Toronto-Dominion Bank called off its $13.4 billion takeover deal for the company last week, citing regulatory uncertainty.

Other Headlines This Week

• One America’s Rachel Acenas covers major headlines in the U.S. and around the world in our Week in Review.
• Conservative host Bobby Eberle joins One America’s Dana Alexa for a weekly news roundup, including the existential crisis at Fox News after the ousting of Tucker Carlson.
• Wisconsin Senator Ron Johnson tells One America News he no longer has faith or confidence in FBI Director Chris Wray or Attorney General Merrick Garland in an exclusive interview.
• The Arizona Supreme Court orders a trial court hearing Kari Lake’s signature verification challenge to move forward while denying attorney fees.
• Chinese automaker BYD Co. plans to expand into electric vehicle manufacturing and assembly in Vietnam, according to a Vietnamese news outlet.
• Cryptocurrency exchange Binance halted bitcoin withdrawals for several hours on Monday, citing heavy volumes and a surge in processing fees.
• Chip designer Qualcomm Inc announced it would buy Israel’s Autotalks Ltd, which makes chips used in technology aimed at improving vehicle-to-everything communication.
• Alibaba’s logistics arm aims to raise up to $2 billion via a listing in Hong Kong, according to sources.

Stay up-to-date with the latest news and market trends with Reuters.