Stock Market Today: SIVB Crisis Pushes Bank Stocks Lower, ULTA Gains On Earnings

The Dow Jones finished lower along with the S&P 500, the Nasdaq-100, and the Russell 2000. All eleven S&P 500 sectors closed the week lower, with consumer staples being the best performer. SVB Financial Group's (SIVB) Silicon Valley bank on Friday, became the first major bank since the financial crisis in 2008 to be taken over by the FDIC. Following the SVB crisis, investors began selling bank stocks across the board. The financial sector saw collective weakness with Bank of America (BAC), M&T Bank (MTB), and Fifth Third Bancorp (FITB) took out new 52-week lows in the session. Meanwhile, Ulta Beauty (ULTA) gained after delivering strong metrics across the board in its fourth quarter. Next week, look out for the CPI, PPI, Retail Sales, Housing Starts and Permits, and Consumer Sentiment in economic data. Additionally, look for Lennar (LEN), Five Below (FIVE), Adobe (ADBE), Dollar General (GD), and FedEx (FDX) earnings. Tune in to find out more about the stock market today.