Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.4%), and DJIA (-0.4%) continue to sit in a mixed fashion as sector strength remains a nearly even split. 

Fifth Third (FITB 43.87, -0.54, -1.22%) announced a $10.9 billion all-stock acquisition of Comerica (CMA 80.54, +10.00, +14.17%), marking one of the largest U.S. regional bank mergers in recent years and continuing the industry's broader consolidation trend.

Comerica shareholders will receive 1.8663 Fifth Third shares for each Comerica share, representing $82.88 per share based on Fifth Third's October 3 closing price, a 17% premium to Comerica's last Friday close.

If completed as expected in 1Q26, the merger will create the nation's ninth-largest bank with approximately $288 billion in assets.

The financials sector (flat) has reclaimed its flat line after facing losses in the majority of its major banking names. 

Meanwhile, Coinbase Global (COIN 388.07, +8.05, +2.12%) advances as Bitcoin hit a record high yesterday.