It’s not just regional bank stocks that have been hit by the recent banking crisis – large-cap bank stocks have also fallen. But some analysts believe the drop is overdone and retail investors flocked to buy the drop in the biggest traditional US banks last week. Still, there may be more room to run. JPMorgan … 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
My top 10 things to watch Monday, March 13 1. First Republic Bank (FRC) down 60% early Monday, leading banking stocks lower in the open. The global market opens lower, the morning after regulators took extraordinary steps to protect depositors at the bankrupt Silicon Valley Bank, owned by SVB Financial (SIVB) and Signature Bank (SBNY). … Read more
The launch of ChatGPT started a wave of tech companies looking to integrate generative AI into their products and apps. Salesforce is rolling out a new product that uses OpenAI’s advanced AI models to help salespeople, customer service workers, developers and others remove mundane tasks from their workday. According to Clara Shih, CEO of Salesforce … Read more
Wells Fargo laid off hundreds of mortgage bankers this week as part of a sweeping series of budget cuts triggered by the bank’s recent strategic shift, CNBC has learned. The layoffs were announced on Tuesday and have ensnared some top performers, including a few bankers who surpassed $100 million in loan volumes last year and … Read more
