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
United States Treasury Secretary Janet Yellen testifies before the Senate Finance Committee on the proposed 2024 budget request, on Capitol Hill in Washington, DC, March 16, 2023. Andrew Caballero – Reynolds | AFP | Getty Images Treasury Secretary Janet Yellen said on Tuesday the government was ready to provide new deposit guarantees if the banking … 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
The index gurus are back. Some of the best-known stocks are reclassified on Friday, which means a lot of money will move. Have you ever wondered why Walmart is ranked as a consumer staple stock in the S&P 500, but similar retailers such as Target, Dollar General and Dollar Tree are ranked as consumer discretionary … Read more
The struggles for regional bank stocks continued despite U.S. regulators over the weekend announcing additional support. First Republic had the third-highest rate of uninsured deposits among U.S. banks, behind SVB and Signature Bank, which was shut down by regulators over the weekend, according to a note from Raymond James. First Republic’s stock was down nearly … Read more
Bank of the First Republic FRC 27.29% and other regional lenders recouped their worst selloff in three years on Tuesday, a sign that regulators’ emergency measures to contain a banking crisis are easing investors. The sharpest rebounds were seen among regional banks which suffered the worst declines in recent days. Shares of the First Republic, … Read more
The aftershocks of the collapse of three U.S. banks in less than a week could be more painful for stocks in the coming weeks by creating new hurdles for the Federal Reserve in its fight against inflation, strategists from the market. US authorities, including the Fed, Treasury and Federal Deposit Insurance Corp., jointly announced on … Read more
Shares of Silicon Valley Bank fell for the second day on Friday and again weighed on the wider banking sector on fears that more banks could take heavy losses on their bond portfolios. Concern among founders and venture capitalists grew earlier this week after Silicon Valley Bank surprised the market by announcing late Wednesday that … Read more
