Stocks Close Higher After First Republic Rescue

Stocks rose Thursday after the nation's largest banks made deposits of $30 billion to support them.

First Republic Bank

In an effort to stop panic within the banking system,

Major stock indexes opened lower, but then changed their course after The Wall Street Journal stated.

JPMorgan Chase

,

Citigroup

,

Bank of America

,

Wells Fargo

Other banks had been in discussions to deposit billions of dollars of money into First Republic.