S&P 500 futures rose after regulators announced a plan to freeze all depositors at a Silicon Valley bank and facilitate additional funding for other banks.
S&P 500 futures rose 0.23%, while Nasdaq 100 futures rose 0.42%.
Investors will be watching a variety of economic statistics this week. The final release of the Consumer Price Index (CPI) figures before the Federal Reserve meeting on March 22 is scheduled for Tuesday. This will be the last major inflation report before the conference.
The share price of Shanghai Pudong Development Bank fell about 1% after the formal announcement of the joint venture between the bank and SVB that their balance sheets would remain independent of each other.
Total cash and bank balances were below 9% at SVB. Shares of the company recently fell about 0.22%.
Hong Kong shares rose 2.87%.
BeiGene saw its shares fall about 1% as it reported that its uninsured cash deposits with SVB amounted to about 3.8% of its total portfolio as of December.
Mobvista shares fell about 1% after the company said it had little exposure to SVB. The company said a small portion of its capital was in bank deposit accounts, which averaged $430,000—total cash and 8.6% bank balances at the low end of the SVB. Shares of the company fell around 0.4% after paring previous losses to the positive.
Regulators take action to stop Silicon Valley Bank collapse in US and UK markets
European stocks fell by a large percentage point as US and UK regulators tried to prevent Silicon Valley Bank from collapsing their economies.
The Stoxx 600 fell 1.82 percent, while Germany’s Dax lost 1.9 percent. France’s CAC 40 lost 1.81 percent. Futures markets indicated the benchmark S&P 500 index would open 0.45 percent higher, while the Nasdaq 100 would open 0.6 percent.
Investors were discussing joint actions by US and British authorities to prevent the failure of California-based SVB and its British arm on Friday for consumers. Authorities seized SVB, the bank of many US tech startups after customers rushed to cash in $42 billion in profits in one day.
