U.S. stock futures steady after First Republic Bank becomes fourth U.S. lender to fail this year

U.S. stock futures were steady on Monday after the fourth U.S. bank failure of the year, which was announced along with a simultaneous takeover by JPMorgan Chase.

What’s happening

On Friday, the Dow Jones Industrial Average DJIA rose 272 points, or 0.8%, to 34098, the S&P 500 SPX increased 34 points, or 0.83%, to 4169, and the Nasdaq Composite COMP gained 84 points, or 0.69%, to 12227.

What’s driving markets

The…