Why was the stock market up today? Because there were two more bank bailouts announced. As finance stocks and bank stocks opened the day deep in the red and it looked like we were headed for another stock market crash, the bailout of First Republic Bank caused an immediate rebound and the stock market rallied. This stock market news, combined with news of a Credit Suisse bailout caused the stock market today to rally. Now that FRC and CS have avoided a bank collapse like silicon valley bank and signature bank endured, fear is leaving the markets about the possibility for more bank failures. It now seems like every bank that is in trouble will receive a bank bail out in an attempt to avoid another bank run.
