Market bulls look to build on momentum. The UAW election signals tough labor negotations ahead for auto giants. Israel erupts in chaos over controversial judicial reforms. A Specialist trader works inside a booth on the floor of the New York Stock Exchange (NYSE) in New York City, March 23, 2023. Brendan McDermid | Reuters Here … Read more
The surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo has slowed to a trickle in recent days, CNBC has learned. The deposit drain, which roiled markets globally and forced regulators to intervene to protect bank customers, began improving around March 16, said people with knowledge of inflows … Read more
US Treasury Secretary Janet Yellen testifies before the Senate Finance Committee on the proposed budget request for 2024, on Capitol Hill in Washington, DC, March 16, 2023. Andrew Caballero-reynolds | Afp | Getty Images Treasury Secretary Janet Yellen said Tuesday the government is ready to provide further guarantees of deposits if the banking crisis worsens. … Read more
Here are the most important news items that investors need to start their trading day: 1. Relief rally UBS’ “shotgun wedding” with Credit Suisse might have done the trick, at least for now, as U.S. equities markets rallied Monday following the latest moves to shore up the global banking system. Now, Wall Street’s focus is … Read more
It’s not just regional bank shares that have been hit by the recent banking crisis — large-cap bank stocks have also tumbled. But some analysts think the slide is overdone, and retail investors flocked to buy the dip in the biggest, traditional American banks last week. Still, there may be more room to run. JPMorgan … Read more
A tumultuous week in the U.S. financial markets ended on an uncertain note Friday after a massive $30 billion injection of big-bank deposits into First Republic Bank failed to calm investors. Last week, the sudden meltdown of three U.S. banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began to rekindle concerns … Read more