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
Cryptocurrencies stood out this week as bank stocks tumbled and the global liquidity crunch rocked the stock market. For the week ending March 17, bitcoin finished up 34%, making it the cryptocurrency’s best week since January 2021 – which marked the start of the institution-led bull run this that year. Coin Metrics measures a week … Read more
For the stock market, forecasts announce storms with a risk of crisis. Stocks have alternated between sharp rises and steep declines over the past week amid a series of bank blasts and attempts to consolidate the financial system. Movements in the bond market and interest rate futures were even more extreme. The volatility in trading … Read more
Posted: March 17, 2023 5:59 PM ET UBS Group AG is in talks to buy all or part of Credit Suisse Group AG, with their boards meeting separately over the weekend to consider the move, the Financial Times reported on Friday. Swiss regulators are helping the talks as they try to build confidence in the … Read more
Shares of regional banks fell on Friday even after the nation’s biggest lenders agreed to inject $30 billion in uninsured deposits into First Republic Bank . The bailout, involving several of the largest US banks, including Bank of America (ticker: BAC), Citigroup (C) and JPMorgan Chase (JPM), initially brought some relief to regional bank stocks, … Read more
Nvidia’s A100 GPU, used to train ChatGPT and other generative AIs, is displayed at the Nvidia Headquarters Demo Center in Santa Clara, California on February 9, 2023. Katie Tarasov Find out which companies are making headlines in pre-market commerce. FedEx – Shares rose 11.6% after the company’s third-quarter earnings beat analysts’ expectations. FedEx reported adjusted … Read more
U.S. stocks could see increasingly wild swings in the coming days as options contracts tied to trillions of dollars worth of securities are due to expire on Friday, removing a buffer that some say helped thwart the index S&P 500 to break out of a narrow trading range. . Options contracts worth $2.8 trillion set … Read more
The liquidation of regional banks is overdone, with four names looking particularly attractive at these levels, according to UBS. While bank stocks rose on Thursday, volatility increased this week. The banking sector began to nose dive shortly before the collapse of Silicon Valley Bank (SVB) and continued this week, although regulators said on Sunday they … Read more
Last updated: March 16, 2023 at 9:42 a.m. ET First published: March 16, 2023 at 9:20 a.m. ET The European Central Bank on Thursday pushed ahead with its plan to raise interest rates by 50 basis points, or half a percentage point, despite jitters in the banking sector, warning that “inflation is set to stay … Read more
During a live release event on Thursday, Baidu CEO Robin Li pointed out that the company’s product – called Ernie bot – isn’t perfect. Instead, he described how it would improve with the ability of users to give him feedback. Baidu is prioritizing initial access to the Ernie bot for what it calls 650 trading … Read more
