Wall Street’s main indexes opened higher on Monday after a buyout deal for the deposits and loans of the failed Silicon Valley Bank calmed nerves about stress in the banking sector. The Dow Jones Industrial Average rose 39.19 points, or 0.12 percent, at the open to 32,276.72. The S&P 500 opened higher by 11.94 points,…
Wall Street, Banks Rise After SVB Sale to First-Citizens
March 27, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
U.S. futures shot higher early Monday, with bank stocks mostly gaining after the Federal Deposit Insurance Corp. said it had agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8 percent early Monday. The FDIC…
Dollar Steady as Banking Worries Keep Investors on Edge
SINGAPORE/LONDON—The dollar was steady on Monday, while the yen hovered near its seven-week peak as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. The dollar index, which measures the currency against six rivals, rose 0.06 percent at 103.05, having gained 0.5 percent on Friday amid banking…
Oil Gains Some Ground as Investors Assess Banks, Russia
March 27, 2023
admin
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment
LONDON—Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe. Brent crude futures were up 30 cents, or 0.4 percent, to $75.29 a barrel at 0900 GMT….
Global Financial Risks Have Risen Amid Bank Turmoil, IMF Chief Warns
March 27, 2023
admin
Business & Marketseconomic policieseconomyfinancialIMF - International Monetary Fundinterest ratesInternationalInvestmentMarketsSilicon Valley BankUSWorld
0 Comment
The recent collapse of Silicon Valley Bank (SVB) and the rescue of Credit Suisse by rival UBS show that risks to global financial stability have increased, International Monetary Fund (IMF) chief Kristalina Georgieva said at a conference in Beijing on March 26. Speaking at the 2023 China Development Forum in the capital, Georgieva warned that rapid interest rate hikes by the Federal Reserve combined with…
First Citizens Buys Failed Lender Silicon Valley Bank
A buyer has been found for failed lender Silicon Valley Bank (SVB), with 17 former branches opening under First Citizens Bank on Monday, the Federal Deposit Insurance Corporation (FDIC) has announced. The FDIC said in a statement Sunday that it has entered into an agreement with the Raleigh, North Carolina-based First Citizens Bank to purchase all…
House Financial Services Chair Warns Against Quick Regulatory Fixes For Banking Crisis
March 25, 2023
admin
bank regulationsBusiness & Marketscongresseconomic policieseconomyHouse Financial Services CommitteeinflationInvestmentMarketsPolicies & ImpactsPoliticsrecessionUSUS News
0 Comment
The House Financial Services Committee Chairman Patrick McHenry (R-N.C.), warned against quick regulatory fixes for the banking crisis. The congressman from North Carolina told the American Bankers Association Washington Summit on March 22, we “cannot legislate confidence” when it comes to the banking sector. He stated that it was too early to see if any new…
Banking Crisis Is How It Starts, Recession Is How It Ends
March 25, 2023
admin
bankingBusiness & MarketsBusiness ColumnistsCompaniescrisiseconomic policieseconomyinflationMarketsrecessionUSUS News
0 Comment
Commentary As the Fed tightens monetary policy, a banking crisis is historically the first evidence that something is breaking. As noted recently in “Not QE,” Last week, amid a rash of bank insolvencies, government agencies took action to stem a potential banking crisis. The FDIC, the Treasury, and the Fed issued a Bank Term Lending…
The Fed’s Dilemma: Fight Inflation or Save Failing Banks
March 25, 2023
admin
bank failuresbanking crisisBusiness & MarketsCredit SuisseDeutsche Bankeconomic policieseconomyinflationMarketsmonetary policypersonal financestocksSVB Collapsethe fedUS
0 Comment
The Federal Reserve has painted itself into a corner with its fight against inflation, and some experts say it now has no coherent plan for how to get out of it. Having kept interest rates near zero for more than a decade and expanded its balance sheet to $9 trillion to stimulate the economy, the…
Wall Street Ends Higher, Marking 2nd Winning Week in a Row
A late-afternoon turnaround on Wall Street left stocks higher Friday as the market shook off a weak start amid worries about banks on both sides of the Atlantic. The S&P 500 rose 0.6 percent after slipping for most of the morning. The benchmark index marked its second straight weekly gain. The Dow Jones Industrial Average…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta