Financial stocks fell on Wednesday after the Federal Reserve raised interest rates by an expected quarter point and signaled that it was not too worried that the collapse of several banks this month would reverberate on the rest of the sector and the economy. KBW Nasdaq Commercial Banks Index and SPDR S&P Regional Banking ETF … Read more
“This is the first time in a long time that the FOMC has had a real decision to make,” said JonesTrading chief strategist Michael O’Rourke, who is among the handful urging the Fed to pause. “Remember, this banking crisis is the result of banks not properly preparing for a cycle of rising interest rates. Another … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
After a frantic weekend of regulators to the rescue that sparked a rally for US stock futures on Sunday night, the mood turned more cautious, with the exception of tech futures still celebrating. Is that many banks are in the red before the opening on Monday. Nervous investors may be wary of more shoes dropping … Read more
Posted: March 10, 2023 1:34 PM ET Bitcoin saw its losses deepen on Friday, falling below $20,000 for the first time since January, as investors fret over contagion from Silicon Valley Bank, which was shuttered by regulators and taken over by the Federal Deposit Insurance Corp. days after crypto-friendly Silvergate Bank said it would cease … Read more
The government said on Friday that hiring in the United States rose solidly, but cooled somewhat in February as employers added 311,000 jobs, more than economists polled by the Wall had expected. StreetJournal. Unemployment rose slightly to 3.6%, still at a historically low level. Meanwhile, regulators shuttered Silicon Valley Bank after a run on deposits … Read more
There will be no rest for investors this week as they await a landmark report on the state of the US labor market, as well as semi-annual congressional testimony from Federal Reserve Chairman Jerome Powell. To complicate matters further, investors will also be watching the reaction of equities to more attractive risk-free yields in the … Read more
Persistent inflation and fears of rising interest rates pushed the 10-year Treasury yield above 4% on Wednesday, marking another acceleration for a historic bond market rout. The rise took the key measure of borrowing costs back to the more than ten-year highs reached last year. Boosting the latest leg: a string of strong economic data … Read more
U.S. stocks fell on Friday, posting their worst weekly performance of the year, as warm economic data rekindled concerns about the Federal Reserve’s tight policy. The S&P 500 fell 42.28 points, or 1.1%, to 3,970.04. The tech-heavy Nasdaq Composite fell 195.46 points, or 1.7%, to 11,394.94. The blue-chip Dow Jones Industrial Average fell 336.99 points, … Read more
Rising Treasury yields appeared on Tuesday to finally catch up with a previously resilient stock market, leaving the Dow Jones Industrial Average and other major indexes with their worst day so far in 2023. “Yields are rising across the curve…This time it looks like market rates are catching up with fed funds,” veteran technical analyst … Read more
