Stocks rebounded Thursday with banks leading on news that a consortium of banks would rescue beleaguered First Republic Bank. Other US banks appeared bolstered by the new lending backstop provided by the Federal Reserve, and more positive news around troubled Credit Suisse after it tapped Swiss National Bank lending and offered to buy back debt.

The Dow Jones industrial average rose 1.2 percent, the S&P 500 gained 1.8 percent, and the NASDAQ was up 2.5 percent. US Treasury yields, the dollar, and oil prices all rose.

In addition to finance, technology and other growth names outperformed with a lift from Advanced Micro Devices. Best sectors were tech, communications services, consumer discretionary, and industrials. Big winners in the Dow industrials included Microsoft, Intel, and Travelers. Consumer staples and energy lagged.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.